Good Morning!

Yesterday we had our 10th winning day in a row! We placed some perfectly positioned and perfectly timed credit spread and I was able to close them out around 30 mins after we placed them. I collected a profit of $1,049 on the day and that brings my running 10 day total profits since we started this experiment to $7,766.24.

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Whale Watching is a recurring segment where we highlight the most significant options purchases by smart money from the previous trading day.

This alert came during the afternoon yesterday and triggered the repeater alert. The repeater alert is when a buyer is building a very large position at rapid fire pace. Generally, folks do this when they believe a move is imminent. We get the alert while the rapid accumulation of contracts take place. This one has an August expiration so has a bit more time to play out that a lot of the weeklies that we come across. It’s definitely interesting and I will be keeping an eye on it to see how it plays out!

As I type this premarket we are slightly green on the day. We have positive gamma stacked overhead today and not nearly as much negative gamma underneath. This looks like it could be setting up to be a steady grind upward type of day. Of course that can always change. I like to get a read on live gamma before I commit to my thesis on the day. However, this premarket setup tells me that if we climb into that positive gamma territory it will likely be a slow grind upwards today. Remember, positive gamma dampens volatility and markets trade a little more controlled. Yesterday was a full on negative gamma day and markets ripped around all day. I look for a little more structure and control today.

Thanks for reading another edition of OPG Order Flow! If you’d like to join us for live alerts be sure to use the link below and get started trading with us!

-Caleb