[] [( [( MARK-et Open Hey OP Crew, Griff here with the Chart of the Day … Let’s check in on regional banks! After plenty of statements about the resiliency of the sector, all we have gotten out of the market is a dead-cat bounce. [ That is not a good sign after the rally we have seen into the quarter’s end. Now the narrative will switch to poor earnings and possibly more bad news out of the banks. With VIX heading back to the lows, this is a good time to consider buying a July 19 25/35 call spread for ~$1.50. That may come in handy as we head towards the debt ceiling deadline that could come as soon as June. Just the thought of the government failing on its debt payment should put that spread well in-the-money. Let’s Go! [ [ - OP MENTORING: SPY, VIX Apr14/Apr19 395/385 put vertical, 20 puts closed for a 35% gain - OPTION SHOPPER: KMI Apr14 17 Calls closed for a 24% gain - POWER INCOME TRADER: SLV May19/Mar31 21.5/22 Call Diagonals closed for a 61% gain - POWER INCOME TRADER: SPX 2 Mar27 4030/4035 call vertical spread closed for a 100% return on credit - WIN THE WEEK: SPY Mar31 404/405 call vertical spread closed for a 130% gain - WIN THE WEEK: XLI Apr21 100/102 call vertical spread closed for a 28% gain Want to find YOUR winning fit? Give our Customer Care Team a call at 1-888-8772-3301 Monday-Friday from 9 a.m.-5 p.m. EST. Or email them anytime at [support@optionpit.com](mailto:support@optionpit.com?subject=) VIX Edge: Risk In The Market The Option Pit VIX Traffic Light Is Yellow: Volatility is likely to move wildly. The S&P 500 closed up 56.54 points yesterday, good for 1.54%. The NDX closed up even more at 1.82%. The VIX got smoked falling to 19.12. Interestingly, the laggard was the RUT, which closed up less than 1%. There is still risk out there, clearly, that is why RUT lagged … but markets seem to be excited. We have gotten stretched to near 4050 multiple times the last few months and it has failed… Will that be the case again this time? [The VIX knows the way. Here is what I see and what to do.]( - Mark Pit Report: NVDA Chart Analysis Licia Leslie in the Pit Report today. From November 22, 2021 until October 14, 2022, NVDA traded pretty much straight down. It came down from $346 to a low of $108. Since that low it has traded almost straight back up. The new recent high just shy of $276 was made just last week on March 22, 2023. That is a $168 rally or 70% off that low. [Click here for my full chart analysis.]( - Licia AG's Views: VIX Up, Stocks Up – Whoa, Nelly! From the desk of Option Pit Director of Education Andrew Giovinazzi The big question is … how long will it last? [ I would say until the economic data on Friday. That’ll be another opportunity to buy VXX puts with some kind of light upside hedge. It’s still a data-driven market to some degree with the banks being less of a wild card. - AG OPTION PIT GLOSSARY [( There are plenty of terms in the trading world that need defining. The [Option Pit Glossary]( is here to help. Today's phrase is: Gamma: The rate of change of an option’s delta for every $1 move in the underlying [( DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. The materials presented from Option Pit LLC are for your informational and educational purposes only. Neither Option Pit LLC nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational and educational purposes intended is at the user’s own risk.
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