5/22 Recap: AXP,DIS,AMD,COCO,AYX

May 22, 2023

∙ Paid

To start, someone asked me to put the names I highlight unusual options activity on in the title so they can easily search them in the future. It doesn’t bother me because putting the name up there doesn’t say if it’s a bullish or bearish trade or what the specific trades were which concerned her as being unfair to subscribers. So if you do find it unfair, just let me know and I will figure out some other way for her to search the highlighted names.

The market, that remains unaware there is a debt ceiling issue looming. The VIX is below 17 as I type this and the White House did warn of a 45% drop in the stock market should a deal not be made. McCarthy just said he wasn’t close to a deal with Biden, but the charts remain firmly bullish. There isn’t much to say about a bear case until we go below a few of these moving averages, till then you’re just gambling on a short position and conviction, which is fine. I am just so surprised there isn’t an inkling of fear in the VIX at this time.