9/23/25 Recap

The SPY is taking a little breather today. What caught my eye today is the massive amount of bullishness in energy names which we haven’t seen in a long time. It just feels like today was a rotation into energy look at all the energy tickers, look at the XLE specifically and everything inside it ran hard. Is it a fakeout? Could be, energy has been awful for years, but if inflation is heating up as Bostic said today, what ran in 2022 when inflation got hot? Energy and energy alone. So keep that in the back of your head as everyone is 150% long tech with zero energy exposure. There is always something working in the market and my job is to find it through options flow. So with what I’m seeing today, I hate to say it but it feels like a rotation to energy may be starting to unfold which wouldn’t be ideal for tech stocks. I’m not saying sell your tech stocks, that’s all we have, I’m saying for a little bit, it looks like as a trade you want to be in energy stocks and typically when those work, tech does not. I have a long term portfolio full of tech stocks i rarely check and I’m making zero adjustments to it. So that’s my two cents on the action unfolding today. If tech lags and energy catches a bid, a big if, most market participants would be way way way offsides. With that said I added alot of energy names today you will see in my book below and I wanted to explain way before you thought someone hacked my account.

My Open Book

Trades I Made Today