Stocks Have Lost Their Way
BY ANDREW GIOVINAZZI August 11, 2023 Yo Pit Crazies, I don’t normally talk about bonds, but sometimes they get to be a thing. Some of the biggest messes I can remember are problems in the bond market. As they say, the bond market is the dog and the equity market is the tail. […]
What Will the CPI Do?
BY ANDREW GIOVINAZZI August 10, 2023 Yo Pit Crazies, In last night’s presentation, I outlined my Core Market Setups for dealing with volatility. It’s the easiest way I know how to organize and parse any given day. Pre-CPI the market showed a “skinny weak” condition. Maybe the CPI will change that. […]
Stocks Get a Touch of Volatility
BY ANDREW GIOVINAZZI August 9, 2023 Yo Pit Crazies, This is the summer for VIX. It spent most of the time under 14 as AI powered tech to highs of the year and some stocks to all time highs. Now folks are having second thoughts right as we move into the Fall trading season. Normally […]
Out of AAPL and Into AMZN
BY ANDREW GIOVINAZZI August 8, 2023 Yo Pit Crazies, Apple Inc (Ticker: AAPL) darn near put traders into a tailspin with their no rev growth quarter. I highlighted a trade Mark and I did on Friday, but the real story is part of the slack has been taken up by Amazon.com Inc (Ticker: AMZN). AMZN […]
AAPL Is The Market, The Market Is AAPL
BY ANDREW GIOVINAZZI August 6, 2023 Yo Pit Crazies, So stocks can go down! I can remember days on the Cboe or P-Coast where I just wanted the bell to ring. I was short gamma, short puts, and just getting run over as the puts I sold went from little puts to […]
AAPL Misses, AMZN Beats on Revs
BY ANDREW GIOVINAZZI August 4, 2023 Yo Pit Crazies, I will unpack my Easy Trade Button next week for you guys. Day 6 of VIX not making lower lows than the day before. Now I kind of expected this because the market was waiting for Apple Inc (Ticker: AAPL) and Amazon.com Inc […]
Fitch Sinks the QQQ (For Now)
BY ANDREW GIOVINAZZI August 3, 2023 Yo Pit Crazies, Yesterday, we discussed favorable conditions for a put calendar in the SPDR S&P 500 Trust (Ticker: SPY) at $453. Well surprise, surprise … SPY opened $453 and my put calendar was up 50%, so I took the profits. That was the start of a day riding […]
IV in Industrial Names is Crazy Cheap
BY ANDREW GIOVINAZZI August 1, 2023 Yo Pit Crazies, If you want to understand what the heck this snap is underneath, keep reading. It’s a picture of how the VIX term structure is and how it should look, with respect to time to expiration. Recall if I trade options, I can trade price, volatility, or […]
Summer’s Half Over – Why is the VIX Not at Year Lows?
BY ANDREW GIOVINAZZI August 1, 2023 Yo Pit Crazies, If you want to understand what the heck this snap is underneath, keep reading. It’s a picture of how the VIX term structure is and how it should look, with respect to time to expiration. Recall if I trade options, I can trade price, volatility, or […]
Don’t Look Now – Rates Are at 2023 Highs
BY ANDREW GIOVINAZZI July 30, 2023 Yo Pit Crazies, Below is a chart of the iShares Barclays 20+ Year USGov Treasury ETF (Ticker: TLT). A very smart bond trader in the Pro Room thought around $100 as a good support sign for stocks. If TLT gets too far below $100, rates are starting to spike […]