Lowdown on the US Debt Downgrade

Mark Sebastian

BY MARK SEBASTIAN
Aug. 2, 2023

Hey Traders,

The replay of our live Debt Downgrade session is below.

Andrew Giovinazzi, Bill Griffo, and Licia Leslie broke down what happened — and unlike the mainstream media — explained what that means for your trading … and how you can profit.

Watch the video below and then read on for the trades that we put on live on Wednesday!

LIVE TRADES from August 2, 2023
Bill Griffo

Buy 3 GDX SEP15/Aug18 30/31.5 at .88 (Call diagonal)

Andrew Giovinazzi

Buy-to-open 1 XLF Sep15 35 puts for .62 … Stop loss at .45

Licia Leslie

Buy-to-open WFC Sep08 44 p under a dollar

BONUS SPY Trade

5 SPY Aug11 450/442.5/435 put butterflies for 1.20

Mark Sebastian

Founder & CEO, Option Pit

See what's hot at option pit

CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain

DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain

PFE May17 26 calls closed for a 66% win

OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain

OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain

Pit Report

Mark Sebastian

Mark Sebastian is a former member of both the Chicago Board Options Exchange (CBOE) and the American Stock Exchange (AMEX), where he spent years mastering the art of options trading in the most competitive environment imaginable. As Chief Investment Officer at the hedge fund Karman Line Capital, Mark manages sophisticated options strategies for institutional clients. He is the author of two highly regarded books on options trading: ‘The Option Traders Hedge Fund’ and ‘Trading Options for Edge.’ Mark is a frequent guest on major financial networks including CNBC, Fox Business News, Bloomberg, and First Business News, where he provides expert commentary on market volatility and options strategies.

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