Tuesday 15 July

Good Morning,

The S&P recovered and closed up 9 points yesterday after a weak overnight session, this gave us a good 0DTE call for +122% netting $215 per lot. We are consistently making money with the day trading over the last 6 weeks so make sure you turn on the notifications in the signal chat.

Overnight Nvidia has secured approval from the US to resume selling its H20 chips in China. Nvidia is up almost 5% pre market.

XBI is looking good if it can reclaim the 200 day moving average at 88.87 then the algos should buy that breakout. $95 is the next target if it can close above.

XBI

CPI data is out 1 hour before the open today. CPI is anticipated to rise 0.3% month on month, a lower than anticipated CPI number would benefit our home stocks, we have plenty of time on these though.

The Gamma environment remains heavily call biased as the S&P consolidates under that level. The largest gamma strike is still at 6300. A close above opens up 6350 and then 6400.

Outlook

The outlook remains risk on but we are consolidating here just under 6300, if we break lower over the coming weeks then anything near 6000 is a buy. In the short term (this week) 6220 is the buy. The bond market is more fragile than of late which can precede a sell off.

Open Calls/Implied Ranges/0DTE Gamma