Checking the Calendar
BY ANDREW GIOVINAZZI July 27, 2023 Yo Pit Crazies, Mark and I set up some complementary call calendar spreads on the Trading Desk on Tuesday only to close them for 40% plus gains on Wednesday afternoon. I was in on the left red arrow and got taken out on the right red arrow […]
Post-Rebalance, Main Street is Perking Up
BY ANDREW GIOVINAZZI July 26, 2023 Yo Pit Crazies, Over the last week, Option Pit has been talking about the Rift. It had the potential to give the Invesco QQQ Trust (Ticker: QQQ) fits, but it ended up staying flat from last week. The power move in and out generated some noise, but the early […]
It Feels Like Last Quarter
BY ANDREW GIOVINAZZI July 25, 2023 Yo Pit Crazies, During the runup to the last tech earnings cycle, we were in our Chicago event. Licia and Voz were coming up with great trades, but the market sentiment looked kind of junky. Microsoft Corp (Ticker: MSFT) surprised everyone and it set off a […]
So a Robot Delivered Some Food
BY ANDREW GIOVINAZZI July 23, 2023 Yo Pit Crazies, Imagine my surprise when my mom tells me a Mexican restaurant in a small town in North Carolina has a robot delivering food. The owner tells my mom they can’t staff the restaurant, a booming restaurant at that. I don’t recall this being a […]
QQQ Can Sell Off!
BY ANDREW GIOVINAZZI July 21, 2023 Yo Pit Crazies, We at Option Pit have been writing about a rift in stocks as the Invesco QQQ Trust (Ticker: QQQ) sets to pullback on the Big Tech winners. Into that news, banks and traders squeezed the early shorts up near $20 in QQQ. Add some […]
A Fun Microsoft Trade
By Andrew Giovinazzi July 20, 2023 Yo Pit Crazies, Microsoft Corp (Ticker: MSFT) went on a tear this week after announcing new pricing for AI related software. So, of course, the stock went up $20 in one day. The good thing was I was already positioned for it. MSFT 5 Day chart with […]
MSFT Has a Ripper
Yo Pit Crazies, We’ve been discussing the NASDAQ rebalance all week to get folks ready for the Invesco QQQ Trust (Ticker: QQQ) rift about to happen. The issue in the short term has been the “pre-squeeze” shorts that piled into the QQQ trade early last week. Our solution was a short QQQ component and a […]
What’s Cooking in the QQQs
Yo Pit Crazies, The Invesco QQQ Trust (Ticker: QQQ) closed at another year high yesterday. Not all-time highs, but a year high is still significant into the QQQ rebalance. It seems like every trader who presold is having second thoughts. India looks good for Apple Inc (Ticker: AAPL), and that’s only a small market of […]
The Last Chance to Buy Vol
Yo Pit Crazies, Market rifts tanked vol into the close Friday. I bought some SPDR S&P 500 Trust (Ticker: SPY) strangles Thursday in the Pro session and had an easy call close early Friday. Did I take it? No, I set a lower stop on the calls looking for a 1% run in SPY. My […]
The Rift Is Coming
Yo Pit Crazies, As we have mentioned, Invesco is cutting down the impact of the Magnificent 7 – Alphabet Inc (Ticker: GOOGL), Amazon.com Inc (Ticker: AMZN), Apple Inc (Ticker: AAPL), Netflix Inc. (Ticker: NFLX), Nvidia Corp, (Ticker: NVDA), Microsoft Corp (Ticker: MSFT), and Meta Inc (Ticker: META) – on the Invesco QQQ Trust (Ticker: […]