10/9/25 Recap

The SPY continues to ride this 8 ema higher even though it is a little weak so far today shockingly with a big move up from our biggest component NVDA. Look we’ve had 1 close under the 8 ema since September began, that alone is a feat in itself considering how short a moving average that is. This is an incredible amount of dip buying going on as dips are all short lived. I can promise you sooner than later we’re going to have one of those elevator down 3-5% moves where it happens in a couple sessions so don’t get complacent here and take gains where you can before the market forces you to. Overall though there isn’t anything to say we’re just drifting along on cruise control even with breadth being bad.

My Open Book

Trades I Made Today

1. FI - I sold 200 of the December 100 puts for 1.39 today. I mentioned this had a large risk reversal in yesterday’s recap and today it saw another with a large sale of January 120 puts. I really don’t want this one at all so I sold puts way lower and if it comes down there it would be a steal. Likely these just expire worthless in 40 sessions and I move on.