9/25 Recap

The SPY continues this consolidation here and has been sideways for 5 sessions without a new high. There really is nothing to discuss, the moving averages are catching up, its been 10 days since we touched the 8 ema, so this move has been quite strong to say the least. Look we’re up almost 7% in 13 sessions, its ok to have some sideways action, we just need to continue building above the recent breakout.

As for China, they reminded us why they are so hard to invest in overnight, a day after telling us how much they’re going to do save their markets, and right after watching their markets roar on that, they fire a ballistic missile into the sea and cause a selloff today. China is the same story it has been forever, a country of immense promise but you’re at the mercy of the the communist party ruling China and whatever they decide to do, like the missile launch nobody saw coming yesterday that spooked everyone.

Recent Trades

INTC - in yesterday’s recap I noted those Intel put sales for next week that were way in the money, 10,000 were sold for $1.21 today they’re .75 as I type this and Intel is up 3.5%.

The put sales are always interesting because they’re just the buyers showing you were they don’t mind going long, the in the money ones like this are always notable because they’re being so bold. If this closes over 23.50 next friday these netted $1.2M in a week, its at 23.60 right now and anywhere over 22.30 they’re profitable. This is looking like a solid bet right now

Today’s Unusual Options Activity

Here is today’s link to the database as always it will be open until tomorrow morning at 9:30 EST and the rest of today’s trades and trends will be updated by this evening