Recent content by jaspa

June FOMC meeting minutes are being released at 2pm ET today, so could get a bit more volatile before/afterwards.

Interesting -

For context.. last 3 days after FOMC - Jan 26 - S&P500 rallied +250pts in next few sessions.. March 16 - S&P 500 rallied +200 points in next few weeks.. May 4 - S&P 500 rallied +150 points in 2 days and then crashed.

Take it for what it's worth, Spotgamma thinks that the upside area for S&P is 4300 (about another 3% from current levels) going into June options expiration. June 15th (VIX exp.) & June 17th (options exp. OPEX) are supposedly key turning point due to very large expirations and the FOMC (6/15)...

I think fed minutes will be released next week.

Curious, what's your strategy with index options? selling both puts/calls if IV is 30%+? SPX/SPY/QQQ?

I had a 875p that I didn’t bother closing. Fully expected to be assigned shares and was just going to wheel it. Pleasantly surprised that they expired instead. Notice SP bump up to 878 in AH. Still thought it was close enough that I would get assigned (since close was around 871). Definitely a...

Looks like Google and Msft down from earnings... QQQ following in AH.

For what it's worth, Spotgamma noted that yesterdays market rally was the result of short covering. He thinks a sustained rally is unlikely to stick until after 5/4 FOMC & Russian default.

It's true, but it was also neutral/slightly green the last few days during the market tanking. That felt unusual too. That said, I opened a CSP way too early today (when it dropped 6%) 😅

Spotgamma's take on TSLA action today -

Do we have any indication whether Elon will be on the earnings call for Q1? I think he skipped Q3 2021, but came back for year end. I thought the idea was he be handing off these corporate activities?

For what it’s worth, in the short term, spotgamma views SPX < 4500 as having negative gamma (higher volatility). He views it as slightly favorable that it’s bounced off 4450 in the last two days.

There could also be short term weakness in Tesla due to the ongoing shutdown in Shanghai. Haven't come across any indication that they're reopening just yet.