11/20 Recap

As we await NVDA this afternoon, the market remains in wait and see mode. Honestly, we look to be in a bear flag the last 4 days on the daily with no buyers taking us up, but it very well could be people just waiting to see what NVDA has in store for us. Our inability to reclaim the 8 ema the last few sessions is worrisome, but we have yet to close below the 21 ema so small win. Target had an atrocious quarter this morning and hit all retail names today. We need good news somewhere, and we just haven’t had any in a few days. I wouldn’t draw too much from the recent action until the biggest company in the world reports and has its ripple effects through everyone. Next week is a holiday too and we’re going into the slowest time of the year where many take off and after how good this year has been, I can imagine it will be quite slow.

Recent Trades

WIX - in the November 1st recap here I flagged this WIX risk reversal. The name was just over $160 and today it exploded on earnings up 13% to $208.xx right now. This trade was a very big winner and even though expiry is in April I’d be looking to close it up today if you’re still in it.

Today’s Unusual Options Activity

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