Good Afternoon!

Hope you all had a great weekend. I got back late last night from my trip to New York City. I spent some time shaking hands and doing some deals on rooftops to work on offering a better product for our readers! I’ll have more on that soon!

This section is where I share some of the biggest purchases of option contracts on the day by Wall Street Whales.

The good thing about sending the letter a little later to you today is that I get to share with you some real time flow. This whale buy on NVDA is bullish and just came across the tape 30 mins before I type this. It’s obviously short dated and expires this Wednesday. Particularly, the last 2 orders that are “above ask” sweep orders are what trigger me as being interested in this flow. I am not trading, but I am keeping an eye on this.

I am not even going to lie, last we we absolutely crushed it in our analysis and trading of SPY. We didn’t miss on a single trade and had some really good results. I will do my best to only bring the best to you all and make sure that I am as clear as I can be with my analysis and not leave you guessing on what to do.

Let’s take a look at SPY Gamma Heatmap as of 2 PM EST on Monday 3/30.

I am showing you the GEX exposure for all expirations this week. Please note, that Friday the market is closed therefore we have a short week and no expirations on Friday.

I put the majority of my current focus on the $630 strike with a 4/2 exp. It is by far the largest GEX exposure and I look at some point for the price of SPY to dip below $630. I continue to be put oriented based on that. I try not to have any preconceived opinions when approaching SPY trading and try to let the dealer positioning color in the lines for me.

With heavy negative gamma stacked up as we are closing our day today, and the looming -1.4B on the $630 strike, I currently own $630 puts with a 4/2 expiration. My goal is to take profits when that gamma sweep pulls it under $630. This is a smaller position for me as the short week could come into play or the news driven market could flip things quickly.

I’ll update as this trade progresses or if I sell it. I am hopeful to get a quick return on this one and back to cash to continue to take these opportunities as they present themselves.

See you tomorrow morning.

-Caleb