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Misc Stock Market

Baffling...SPX option flow is very bullish today...most bullish I've seen in some time.

PCR is sub .7.

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SPY call buying...it's impressive what is going on with SPX/SPY call buying the dip today. Market looks really weak still....?‍♂️


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Q’s soundly rejected $348….then it was $330 3 times. Now I guess it will probably be $295-$300 area.

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Q’s at $310 is roughly $100 off ATH’s…would need a 32% move higher to just get back to that level. It’s going to be years before we see a new ATH.
 
Storm5 said:
I cut 60 percent of my Amazon outs and put spreads and bought calls a debit spreads two weeks out between 2475/2575


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I don't have much going on....the puts are so hopefully my IRAs don't get wrecked anymore. I essentially put in a bottom for the entire market.
 
This is the definition of ugliness and unless the Ukraine/Russia war ends I don't know what the catalyst will be for a sustained move higher. CPI next Friday 5/11...maybe that surprises and it's softer.

Even the most bullish bulls are ready for a flush down to $380 on SPY and $280 on the Q's. I didn't even do much today and it's exhausting.

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Q's said $330 ain't happening unless inflation is coming down, Fed stops hiking and Ukraine/Russia war ends. That's 3 violent rejections at that level and previous made a lower low...will this one?



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One of my friends just texted he got margin called and was only like $2k into margin on a $80k account. He was shocked, he had never been margin called.
 
Storm5 said:
10 yr is ripping


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Been headed to the abyss since the 90's though

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Tight range in NQ...over $12900 it can run...below $12700 it's every man for himself. I have puts and the last time I had puts overnight was into Wednesday and the market ripped 6% higher. So yeah, I suck and we probably rip hard today.

But sentiment sure has changed....even the perma bulls are tired of this and ready for a flush.

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Market liked the jobs numbers...pretty much inline with expectations, solid report for growth. NQ ran up to $12900...my puts are toast. ?


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My qqq calls got wrecked. Sold them for at least a 50% loss. Market will probably go up now
 
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