Good Morning!

We had yet another winning day using our analysis to make trades in our live alert group! We hit SPY for ~37% yesterday. Another one of our runners, CLF, is approaching a 100% return.

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Whale Watching is our recurring segment where we share the most bullish options buys by smart money from the day before.

FCEL is a familiar name. We made a massive move in it a few weeks back and it played out really well. I was looking through gamma charts and came across this one. FCEL has massive positioning at the $30 strike over the next few weeks. This positioning is massive relative to the positioning everywhere else on this gamma view for FCEL. I chose to write about the $27 strike price as that is where the first line of resistance sits. I’d rather choose a this contract that position higher up and not have the momentum to make it there.

I don’t own this contract. I will be evaluating at market open to see if this is something I will buy. However, seeing the massive positioning overhead on a volatile name in a hot sector is something to take note of. It could certainly be a sign of a move to come.

SPY continues to set up the same on the daily. We sit at the crossroads of positive and negative gamma. Negative gamma can cause a quick selloff below. Positive gamma can allow us to grind upward like we have for the past few weeks. Ultimately, It’s another one of those days where I will have to wait for the market to open to see where gamma positions and if we can gauge a direction and get ahead of the move.

I’ll be watching at open to see what gamma does and will proceed from there. Not much more to say on this one.

Thanks again for reading! I try my best to only bring quality moves and analysis to this newsletter.

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