9/27 Recap

Pretty slow session so far, the SPY continues to levitate. We still have not touched the 8 ema in over 2 weeks, that’s pretty impressive actually, so the breakout remains firm. Some of the big tech names are really struggling as it seems money is exiting those and flowing right into China names which now seem unstoppable. If you’re a PEAD believer, which I am, this China trade is one where you want to be selling puts at all gaps and buying more, this rotation looks very real now after a few days and unfortunately it looks like alot of that hot money has left big tech, for the time being.

Recent Trades

TSLA - last weekend’s best idea was a 2 week Tesla trade into the 10/10 Robotaxi event. Tesla opened the week at 242.xx and is now 256.xx even as the NQ in general has lagged with names like MSFT and AMZN having terrible weeks. These put spreads likely expire worthless in a week because Tesla would have to fall almost 20% next week and I don’t see that right before the event. These put spreads below went from .68 to .10 now, perfect theta decay for the week.

link

Today’s Unusual Options Activity

Here is today’s link to the database it will be open until monday morning at the open. The rest of today’s action will be updated by the evening.