11/26 Recap

The SPY continues its levitation over the 21 ema, all dips are being bought and for the second day in a row it is stuck below the big 600 level. Megacap tech is finally participating in the rally which has not been a thing recently. META,AMZN,MSFT are all outpacing the SPY for the first time in a long time. If these megacaps can catch a bid here we could be in for a strong santa rally. The next couple days should be fairly slow with thursday being a holiday and a half day on friday. We also got a ceasefire in the middle east which probably ends up helping alot of names that were always on edge of an escalation.

My recent trade on IBIT I mentioned selling calls vs my position, they just opened weekly options on IBIT, those were not available last week when it started trading options so I rolled down my December 70 monthly calls to 59 calls next week for a small credit over .10 and I plan on selling weekly calls vs my position instead of monthly calls as long as I hold it. I will adjust the levels week to week but in general trying to target 10-15% otm calls and if it happens to make a sharp move I can close up the trade for a big profit or roll them out.

Recent Trades

CBRL - Cracker Barrel popped over 10% yesterday nearly touching 54 yesterday these puts are up 50% in 2 weeks even now at 51.xx just $2 higher than the stock was when they were sold on 11/15 here. If you’re in these I’d consider closing up here, the IV has drained materially.

Today’s Unusual Options Activity

Here is today’s link to the database, it will up up until tomorrow morning at the opening bell. I will add the rest of today’s action by tonight.