10/30 Recap

The SPY remains in the same narrow range it has been in the last few sessions, barely over the 21 ema. Today has some huge reports from Microsft and Meta, and if Google told us anything yesterday it is that things are going very well in both cloud and advertising which should bode well for both of those names. META is struggling with its 3rd test of 600 so far but let’s see how this afternoon goes, there is still a ton of open interest materially higher there. We have jobs numbers friday and then the real fun begins next week with the election, fed, and post earnings lull. As long as we stay over that 21 at 578ish right now, we are ok to stay long. We will have a better feel for this friday after the last reports from Apple and Amazon thursday.

Recent Trades

TREX - last week in the 10/25 recap here I noted these TREX calls. It had a nice pop on earnings yesterday up 6% and more today to near 71 for a quick 10% move in the common but even then these calls only went from 2.18 to 2.95 today, a great return for a few days but the put spreads I mentioned you could sell below will likely expire worthless and be a perfect trade. The premiums are so juiced into earnings it is hard to buy calls and win big alot of the time.

Today’s Unusual Options Activity

Here is today’s link to the database as usual it will expire tomorrow at the opening bell. The rest of today’s trades and trends will be available by the afternoon.