Good Morning!

My goodness did we have a great day trading yesterday. I alerted our live alerts group to a 43% winner on SPY. Check out some of their results:

I encourage you to join our live alerts team and print with us!

Whale Watching is our recurring segment where we share the most interesting or bullish options flows from the prior trading day. This is what stood out to me yesterday:

This one came during the last few minutes of the trading day. This one is interesting because SN (SharkNinja) is not a name you see popping up on options scanners a lot. Anytime I see unusual flow on typically boring names it grabs my interest. The flow is decent here and the alert is enough for me to watch it. This is not one that I have a position in yet, though. I am more in observation mode right now. I want to see if more flow comes in today or if volume picks up in any meaningful way. At the very least, this one is on my list to keep an eye on!

SPY is slightly down in the premarket as I write this about an hour before market open. As of now gamma is positioned overhead, though. 743, 745, and 750 are all lit up right now with some sizable exposure. We are going to see how markets digest the NVDA earnings from yesterday upon open. As always, I want to wait until the market opens to be overly declarative on a direction as I like to see how gamma stacks up when we are live but it looks like we are positioned to take a move up today.

Honestly, this could take on a similar appearance to yesterday’s move. We will see how gamma materializes and how dealers position themselves as the trading day starts.

If you want in on the live action and the live updates of gamma positioning be sure to use the link below and join us for some live alerts!