10/22 Recap

The SPY broke below the 8 ema today for the first time since early October, that is not optimal. These tests tend to lead to more and as I said yesterday we just look weak right now. You’re seeing some pockets of strength like Microsoft ramping today after a few weeks of weakness, but overall the market just isn’t looking strong. Until that 21 ema breaks below I would say be cautiously optimistic we see bounce soon otherwise we might be having some weakness into earnings next week.

Recent Trades

VICR - 2 days ago in the thursday recap here I highlighted some odd calls on VICR, I don’t even know what this $2B company does but yesterday mid day something happened and the stock spiked 9% intraday. These calls more than tripled from $1 to over $3. Even today the stock is down 2.5% and the calls are still 2.30 for well over 100% since they were posted. I would strongly consider closing because they report today in the afternoon. Could it go higher? Sure, but if you did well, why hold through the earnings risk.

Today’s Unusual Options Activity

Here is today’s link to the database as always it will expire tomorrow morning at the open, the rest of today’s trades will be added by the afternoon.