Good Morning!

Yesterday I actually took a personal day to attend to a few things in my life and was unable to trade. However, I will take this time to review Wednesday’s trade. Wednesday was my first loss in 35 trading days. The concept of my trade was simple. I was trying to open bull put spreads on the dip. I was basically one strike too early. We got squeezed just a bit too much for my liking and my risk management kicked in and I cut the trade shortly before the market bounced and the trade recovered and finished OTM. It happens that way sometimes. I will still always come on and be transparent here with what happened! I look forward to building a new winning streak and seeing if we can top 35 days!

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Attached are the daily gamma exposures for SPY for Friday September 25th. The market is green today and up around a third of a percent as I type this premarket. The heaviest exposure on the day is at 770 with some additional heavy exposures above and slightly below as well. There still continues to be negative gamma at play and it can not be ignored especially how the market has traded over the past few days. We must keep tabs on negative gamma and if price action begins to interact with these areas the effect it could have in further moving down the market. As always, I like to see market direction and gamma align before entering into a trade. Once I get that confluence that is the confirmation that I need to move forward and lock in my trade. I will be watching the market today to see how we trade and how things go. I will be sharing all of my trades and commentary in real time to our subscribers.

Thanks for reading another edition of OPG Order Flow. Let’s close the week strong in the market and enjoy the weekend.

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Thanks for reading!

-Caleb