6/20 Recap

Fairly slow session today with OPEX tomorrow so I’m sending the recap out a little early, the SPY itself is still fine and trending over all the short term moving averages but internally the 3 leaders from recently Apple, Microsoft, and Nvidia were red and the 3 laggards Amazon, Google, and Meta were green. Could this be the start of a small rotation within the megacaps? We will see. The VIX being up over 5% right now should be a little caution flag for everyone.

Nvidia in particular, this has become the bulk of the overall options market for now but this may have been the blowoff top. I hate saying stuff like that because the stock has been straight up for 2 years, but it just crossed into the world’s largest company, and today exploded higher off the open and reversed hard. This has been an insane move and if this it it for the short term, wow. The reason I say this may have been it was today was the first time I’ve seen a long term call seller, you can see the trade below someone sold 11,000 calls out in December 2025 at 150. They got 44.16 and are happy to let go at 194.16 but I haven’t seen stuff like this in size on NVDA ever, so they’re finally beginning to cap upside. It still remains well above the 8 ema and not bearish at all, but today was definitely an interesting turn of events as you’ll see multiple sizable NVDA put buys for the first time in the table below.

Recent Trades

In the 6/11 Recap here I highlighted the odd lot of CNK calls, they’re still open because the OI is over 13,000 right now, but those calls have gone from .35 to $1.20 right now, impressive move over the last 9 days if you’re in this still you have to think about taking some off after this move.

Trends

1 Week

2 Week

1 Month

Today’s Unusual Options Activity

Here is today’s link to the database I will have the rest of the days action added by tonight.