🧪NO_ NO_
(pre-close rush since we were stuck in that trade, please forgive lack of memes)
✅ Trade Review: Today’s Twitter SPY Win
This trade was all about when the candle marked “this candle” tried to definitively smash through the monthly level and was met with a hard bounce (circled).
Once SPY was trending it was about trying to find the best target—I’m a broken record, but previous gap levels are really the best option here when there aren’t monthlies ahead.
Zoomed out:
The Summer Freebie: NO_ #1 is NOK
This one is simple: size and clustering coming in the same session.
NOK 10C 11/20
NOK 11C 11/20
That is what got my attention. Not just one random print, not one tiny outside-the-money lotto, but a real cluster with the same expiration perimeter. When whales stack neighboring strikes like that, especially with decent premium, it usually means they are not guessing. They are building around a move they expect to happen in a specific timeframe.
Plus, found this oldie but goodies when I ran NOK through Cerebro::
I also like this one because the whale hops in for 700k—then something gets him a little squirrel and he drops 200k of it next day—but he is STILL holding. This means we got ourselves a real live human trying to figure out what to most likely, as opposed to a computer automated hedge.