Good Morning!

Yesterday was a bit of a choppy day in the market. We still managed to collect ~$1000 in profit from credit spreads on SPY. I used the SPY gamma levels I share here every day to make that trade and shared it with the entire live alerts group! It’s my new goal to collect $500-$1000 via credit spreads every single trading day.

You can join our live alerts and get these trades and all my other trades at the link below! I’ve gone ahead and discounted your first month!

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

This urgent repeater alert was triggered on MU yesterday and it’s definitely an interesting one. Obviously, MU has been one of the hottest names of the year. It has cooled off in recent weeks but someone or someones are betting big that it’s going to run up over the next few weeks. I don’t have a position in this one. However, I’ll definitely be watching it to see if there is an opportunity to start a position over the coming days.

SPY is up around a third of a percent premarket as I type this. Yesterday was a steady grind for SPY. It kind of chopped for most of the afternoon which is why our credit spreads aged so well. Today we have a lot of positive gamma overhead right now. 757 is the largest exposure with 754 and 755 have pretty large exposure at the moment as well. Meanwhile, keep and eye on the negative gamma below 752. This is where things can get amplified to the downside. The negative gamma sizing is much smaller than our positive gamma sizing. My initial reading is I look for this to be another day where we grind upwards into the stronger nodes of the day. As always, I’ll wait to get a live reading of SPY and make my final observations when the market is live.

Thanks for reading another edition of OPG Order Flow. I’ll be spending the entire trading day hanging with our live alerts community and issuing trades!

If you want to trade with us and be led with data driven trades be sure to use the link below and try our service out!

-Caleb