3/25 Recap

Pretty calm day so far, nothing out of the ordinary, of the big 6 only NVDA and AMZN are green. This is a short week with the market closed friday for Easter so options expire thursday. We also have quarter end rebalancing this week, but overall I don’t expect anything crazy this week, we don’t have any market moving data. Hard to believe but earnings season starts in 2 weeks again, this whole quarter has been a slow melt up and we never really had a dip.

The SPY continues to just surf the 8 ema higher, even after the pullback the last 3 sessions, we remain over the 8 day. The 50 day is now at 500, so bears are going to have a hard time seeing under 500 as that should be a big support level and rising by the day.

The DXY is slowly breaking out, the dollar coming out of a near 6 month downtrend is not ideal for equities. Stock bulls would like to see this reverse and be a false breakout. If this picks up steam it can be a short term headwind.

Oil had a nice bounce off the 8 ema today at 81 after the last couple sessions. This remains bullish for now and will be of no help to inflation prints.

Recent Trades

CEG - on 3/15 I highlighted Constellation Energy and it was 166, it is up 5% today to 187. 15% in 10 days is a wild move for a utility, that player with the big call buy that day absolutely nailed this move. Nice call by @sleepysolcap as well I know he reads this so congrats on your position.

Trends

These trends continue to mostly work as they’re intended to. MU was the top trend for the last week coming into today and it is up another 7.6% today. FCX as well remains quite strong. The option players have this way of always being in the names before their move up is all I can say.

1 Week

2 Week

1 Month

Today’s Unusual Options Activity

Below is today’s link to the database. As always it expires tomorrow at the open, and the rest of today’s trades will be added by the afternoon. Once again there are too many calls bought so far today for me to post it here in one screen grab, so please click the link below and check out the daily chart tab for the options table from today.