9 day VIX makes a 3 week high

Option Pit Stop [fstp, logo, header] June 3, 2024 [ag views, logo, header] 9 day VIX makes a 3 week high If you missed my post of Friday, I did a little diddy on the Gamma bomblet in SPX. Not the low Open Interest (OI) on the column on the far left. Volume on the strike was many multiples of the Open Interest which caused a massive gamma event. Dealers had no inventory to sell. [ded] Even with the Weekend Effect, VIX 9Day is trading at a 3 week high. VIX9D has not been this high since early May. That is saying something. I think this Gamma Bomblet spooked traders. [ded] Feb 12 is the FOMC meeting minutes and this Friday is Non-Farm Payrolls. I would be surprised if volatility could hold up with SPX sitting like this. - AG  [logo, pit profits] Want to find YOUR winning fit? Give our Customer Care Team a call at [1-888-872-3301](tel:/1-888-872-3301) Monday-Friday from 9 a.m. - 5 p.m. EST. Or email them anytime at [support@optionpit.com](mailto:/support@optionpit.com)  [logo, header, fopr] Option Pit Research Special Report: Nvidia Part 1/5 Hey Traders, [Click here to read post 1/5 of Option Pit Research’s series on Nvidia]( Enjoy! - Hannah --------------------------------------------------------------- Want to recieve uodates directly from Hannah?[Click this link to sign up!](  [frep] Ticker of the Week: Chevron Corp (Ticker: CVX) Hey Traders, Oil has been stuck in a range since the beginning of May. On Tuesday we watched oil gap higher and then rally….Wednesday brought some selling but USO is still trading well above the lows from last week: [ded]( With oil in limbo, what about the conglomerates…formerly the largest company in the world XOM had a rough last few days ... .so has the rest of the sector. Is it time to jump back into these names? If so, what stock makes the most sense here…. [Lets dig in…]( - Mark --------------------------------------------------------------- Receive the Option Pit "Ticker of the Week" breakdowns as soon as they are released. [Click this link to sign up!](  [fpri] Yellen to the Rescue … Again! Hey Income Hunters, Heading into Wednesday this week interest rates rose across the board, as the “Bond Vigilantes”, meaning bond bears itching to sell, came out in full force …  There were multiple headlines driving the bond selling … - U.S. two-year, five-year, seven-year note auctions showed week results - Fed survey shows expanding economy, inflation - U.S. consumer confidence rebounds - Fed funds futures price in one cut in 2024 By Wednesday, last week, the US 10-year hit a big yield resistance level and SPX hit 5,200, which I highlighted as a buy level last week … It[ Doesn't Get Much Easier Than This](  [fpri] Sure enough these moves triggered another $25 billion injection of liquidity into the markets from Janet Yellen's Treasury General Account (TGA) held at the Fed. On top of that, read on through to see some eye opening comments by Yellen and other high powered past and present Fed officials that signal much more stimulus ahead … [Cick here to read the full article]( - Bill --------------------------------------------------------------- Never miss an edition of Bill Griffo's Power Income Newsletter ever again. [Click this link to sign up!](  Don't miss when our traders go live! Get an alert everytime we open the live rooms to all of our readers for free by selecting the calendar you use below. Add Option Pit Live Events to Your Calendar [Apple]( [Google]( [Outlook]( [Outlook.com]( [Office 365]( [Yahoo](   [glossary, logo] There are plenty of terms in the trading world that need explaining. The Option Pit Glossary is here to help. Today's phrase is:  Covered call - A short call position, typically taken to insure or hedge long stock. This is also known as a short synthetic put. 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