10/9 Recap

Quiet session so far, we have FOMC later today and CPI tomorrow if something is going to cause a move. The SPY is moving higher and away from the 8 ema, nothing bearish here for now, we held the breakout and are moving up to new highs after a nice period of consolidation. This market still looks primed for highs into the election as long as CPI is ok tomorrow morning. If it isn’t then we start with the rate hike narrative again and possibly lower equities. Tech is finally looking like it may participate more broadly with names like MSFT reclaiming the 200 day average so far today after a scary 48 hours where it closed below there.

Recent Trades

PLL - up 16% right now to nearly $15, I wrote this up last week on 10/4 here. This was a huge gainer as these calls went from 1.20 to 3 right now in just 3 days, these were posted last friday. Insane move, and although they have 45 days left, I’d be looking to cash these in. If you want to hold on sell upside calls and try to recoup your basis.

Today’s Unusual Options Flow

Here is today’s link to the database, as always this will be open until tomorrow morning and the rest of today’s action will be added by the afternoon so check back for the updated trends and trades.