Good Morning!

Friday’s Recap

Anyone else feel like it’s been forever since the market was open?! Friday was another winning trade for us. I cleared $822 profit on bull puts that I opened shortly after market open. This made for the groups 36th out of 37 winning days since starting daily credit spreads. This lifts my profit today in those 37 days to over $25,700!

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S&P 500 Analysis

SPY (SPX) has opened slightly red this morning in the premarket. This comes after a mildly red day on Friday as well. Markets continue to digest a variety of different news factors that seem to be weighing it down a bit. The concern over rate hikes continues to be one of the largest fears. Price currently sits in a negative gamma zone and that can expand volatility and price action as long as we are in that zone. Positive gamma really doesn’t come into play until above 772 for SPY. This should make for another great day for credit spreads and offer up some solid premiums to capture. As always, I prefer to make my final judgement call when I can get a live read on gamma when the market opens and see how it all materializes in real time. Once I get that final reading I will send my assessment to live alert members.

The Closing Bell

Thanks for reading another edition of OPG Order Flow! Be sure to check out our live alert trading group where I post all of my trades in real time!

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Thanks!

-Caleb

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