We traded all time highs today, so that should set up the best trade of the year

BY ANDREW GIOVINAZZI

June 27th, 2025

Yo Pit Crazies,

 

I went live last night with the lovely Ms. Hannah to walk through the biggest trading opportunity of the year. It’s not everyday you get a 10x return potential buy puts but there it is. Will a Vol Bomb go off this year like so many bombs before it?

 

  • Japan Carry Bomb
  • Fed Rate Bomb
  • Liberation Day Bomb

 

How many surprises can the market take? Well, it can take a lot – and in each of the above it was a complete surprise. That’s what happens and usually it’s what the conventional wisdom least expects.

20 Day VIX Chart with 1 min candles

 

What is the surprise trade for next week?

 

Funny you should ask.

 

Pricing Anomalies are Keeping VIX Futures Higher

 

SPY rallied 20+ points this week and the VIX futures barely moved. We have the 4th of July Weekend and July 9th Tariff reprieves coming. Heck, SPY dropped .7% today from all time highs when the USA and Canada parted company on the tariff talks.

4 day VIX futures chart this week
 

Ultimately those futures should drift to the cash after the 9th. That should be a great payday. It happened just like that after the election. Check that out here.

 

To Your Trading Success,

 

AG

Andrew Giovinazzi

30-Year Trading Pro

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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

Andrew Giovinazzi

Andrew Giovinazzi

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About the Author

Andrew Giovinazzi

Andrew Giovinazzi

Former CBOE floor trader and CIO at Karman Line Capital. Author of ‘The Option Traders Hedge Fund’ with over 30 years of options trading experience.

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