Good Morning!

Yesterday was one of the most entertaining days I’ve had in the market in quite a while. We ended up trading spy for a ~45% return in our live alerts group. We had to work for it a bit, but it ended with a nice green trade. We have yet to miss a trade this week on SPY going 4/4.

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Whale Watching is our recurring segment where we share the most notable option buys by smart money from the previous trading day.

My options scanning software picked up flow into PUMP yesterday and I found it significant. This one falls in live with an industry that has been hot. PUMP is in the power generation area via hydraulic fracturing. We’ve seen other energy names (think BE or FCEL) really catch a bid in this current market environment. Now PUMP is getting some flow as well. This is one that I am just watching for now but will keep an eye on to see if we get more flow today.

SPY is up premarket and continues to look bullish today! We are back in a positive gamma environment. 745 acts as the biggest node with 750 as a significant presence as well. I’d look for 745 to be the support and 750 to be the resistance today. We could see it range bound between those 2 areas. I look for us to have an active morning but expect volume to leave at lunch and not to return until Tuesday. (Market is closed Monday for Memorial Day). I expect a lot of volume to get a jump on the long weekend. Just keep that in mind when trading!

Obviously, as always I want to see how gamma materializes when the market opens up. If we reposition in any impactful way I will let live alert members hear about it!

Let’s close this week strong! It’s been an incredible trading week with all profits and no losses. I am going to do my best to go 5/5 on SPY this week!

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