Good Morning!

I was unable to send the letter out on last Friday as I got a little sick. I tried to sit down and muscle through the writeup but my head just wasn’t in the right place. I then decided it was best to not send anything out as opposed to sending out analysis when I am not at my best.

That being said, I posted a video on my social media Thursday evening telling folks that my next trade was in COIN. It performed wonderfully on Friday leading to a nice return and an easy sell for me before I rested up the rest of the day.

I am working on live alerts for you all and hope to have a sign up link ready for you before the week’s end. I’ll keep you updated on that front.

As I write this the S&P 500 is down around 0.36%. Right now, we are sitting largely in a negative gamma zone. The largest node on the board is currently the $700 strike for Friday 4/24 expiration with -664M exposure. This will once again be one of those days where a particular direction isn’t established yet. The most important changes will take place as the market opens and dealers begin to reestablish their positions and hedgings.

Right now, I am slightly biased towards the downside towards that $700 price point simply due to the exposure there. That could always change once market opens, but that’s what I am seeing now. When setups look like this, the most important metric is rate of change for nodes. I want to watch for where money is piling up and take note of that as it’s likely the direction that dealers want to take markets.

Not the most informative of analysis, but that’s generally how Monday morning premarkets are.

We generally don’t have any Whales to track when I issue the report Monday morning premarket. We will have fresh whale trades for you to track in tomorro’s episode. Last week’s whale trades were largely successful and generated great returns.

Happy Monday!

-Caleb Gregory