Good Morning!

I continue to keep working to make this publication what YOU want it to be. So please tell me… IF you had to choose, which of these is the biggest priority to you:

And now let me introduce to you a new & recurring segment in the OPG Order Flow email:

Whale Watching will be reserved for showing you the most significant Whale option buys of the day. The goal is to track wall street whales and find any significant buys as they happen.

Over 24 million dollars came in on this GOOGL 340 call with an expiration in June. This is some bullish flow if I’ve ever seen it! Obviously, as I report this to you I don’t have a position in this. I will be watching it closely to see if it makes sense to follow this whale into the trade.

Someone or a group of whales were aggressively building a position in GOOGL today. Google is definitely capable of going on a run this year. I would consider this high on the bullishness scale.

I’ve still been trading whale option flows, but I am more focused on mid term length contracts like the google call above. I haven’t been trading any of the short term alerts.

Instead, I’ve been using GEX heatmaps to trade spy and it’s been working out wonderfully. Yesterday, I was in and out for 120% with SPY puts. I took this screenshot as I was closing out the trade.

There is a ton going on here but I continue to keep my eye on the 640 strike that has a growing amount of gamma exposure nearing 1 billion. This is a Friday 3/27 expiration. I’m not in this position yet. My personal schedule is a little clouded the next two days so I don’t want to trade distracted. However, I’ve got my eye on 640 puts. Any momentum from the downside and I think this 640 range acts as a magnet.

I will watch as the market opens to see how positioning changes and this can bring further confirmation of the trend. The negative gamma pockets that are mostly across them map simply mean volatility. For now, the market doesn’t look like it will be a close chop. It’s going to move around and that creates ample opportunity to trade.

Things are changing by the day. This is a news and narrative driven market right now. The GEX nodes I am showing above could look completely different pending good/bad news around geo-politics. Keep this in mind if/when you trade.

Have a great Tuesday!

-Caleb