Up 1%, Down 1%
BY ANDREW GIOVINAZZI August 25, 2023 Yo Pit Crazies, After blitzing higher on the big Nvidia Corp (Ticker: NVDA) beat, stocks got a case of the grumpies on interest rates and bank worries and hit the skids for a near 100 point peak to trough turn around for the SPX. I have to say – […]
Nvidia Makes Money!
BY ANDREW GIOVINAZZI August 24, 2023 Yo Pit Crazies, How do you price a company that is growing at 80% a year when the value is already a trillion dollars? The answer is higher. As I see it after the close, Nvidia Corp (Ticker: NVDA) is lifting all ships after hours as the animal juices […]
How Do Options Get Mispriced?
BY ANDREW GIOVINAZZI August 23, 2023 Yo Pit Crazies, There’s seemingly no end or horrible news coming out of financial media lately. All the big rating agencies are downgrading debt of the major players like the US Gov, banks, and brokerages. Now of course, they’ve been wrong in the past, like missing the Great Financial […]
A Funny Thing Happened on the Way to the BRICS
BY ANDREW GIOVINAZZI August 22, 2023 Yo Pit Crazies, I took Friday off to drive my boys to college and closed all of my SPDR S&P 500 (Ticker: SPY) put spreads going into the close Thursday. Now I’m back in business! After a shaky start, things seem to turn around on the Applied Materials Inc […]
Is Volatility Really Going Up?
BY ANDREW GIOVINAZZI August 20, 2023 Yo Pit Crazies, I took my boys to college – first time in 20 years I have no boys in the house. I knew it was going to happen and I’m happy where they are going, but still it’s a bit too quiet. It feels like that in the […]
Stocks Selloff, VIX Starts to Budge
BY ANDREW GIOVINAZZI August 18, 2023 Yo Pit Crazies, VIX had the highest close since May … and to be honest, it never recovered from the Fitch downgrade of two weeks ago. We got back to the mid 14s this week, but the lower vol we had all summer is a thing of the past […]
Treasuries Are Sinking the Stock Market
BY ANDREW GIOVINAZZI August 17, 2023 Yo Pit Crazies, Normally I leave the bonds to Bill Griffo as our expert in fixed income. The issue I have is when the bond market messes with the stock market. That time is now. What’s funny is that the other bond ETFs like the iShares iBoxx High Yield […]
The CBOE Double Double
BY ANDREW GIOVINAZZI August 16, 2023 Yo Pit Crazies, At yesterday’s Open House, I posted this trade idea which I filled live: BTO 1 CBOE Sep15/Sep01 150 call calendar for .80 CBOE 1 year chart BTO 1 VIX Sep20 16 put and 20/30 call spread for 1.65 VIX 1 month chart That’s a Call Calendar […]
Trade Like a Pro
BY ANDREW GIOVINAZZI August 15, 2023 Yo Pit Crazies, In all my products, I stress that an option trade needs an opinion and an edge. An opinion is you think something will happen, and an edge is getting something for nothing. An edge comes in many forms, but the easiest I can think of is […]
What Zone Are You In?
BY ANDREW GIOVINAZZI August 13, 2023 Yo Pit Crazies, Mark and I have been whooping it in the Trading Desk lately buying strangles. Why are we buying strangles in the S&P 500 Mini Index (Ticker: XSP)? Because of this chart: VIX9D over the last 3 months Note how the […]