Now Reading
Hold My Beer
0

Hold My Beer

by The MoleOctober 7, 2020

In my Monday post I promised you a volatile week and judging by the past two sessions the market does not intend to disappoint. If you take what historically is already the most volatile week of the entire year, add a heaping of political brinksmanship, a controversial presidential election process, ongoing riots, burning cities, an impending release of classified information by the DOJ, and a healthy dash of good old fashioned MSM hyperbole, then you’ve got yourself a veritable tinderbox of market volatility just waiting to be unleashed.

I for one love it, for volatility means opportunity to get my grubby little hands on even more ill-gotten gains. This may come across as a bit cynical and uncaring. In my defense I would counter that taking any of the flaming train wreck that 2020 has turned into seriously would submit me to a level of mental and emotional hazard I’m unwilling to embrace into my life.

Of course you didn’t come here for cynical diatribes so let’s get on with a bit of charting goodness. Looking at the SPX I see us going nowhere fast as it already ran up to the upper expected price threshold (upper EPT) bounced back, and is currently pushing higher in the early morning session for no apparent reason at all.

My monsters of tech (MOT) composite has been curiously quiet over the past two weeks and although I don’t consider big tech a prime short candidate I cannot help but wonder what implications this may have on the rest of the market.

And once again, it’s not for a lack of trying. Every time I check the OCC report I see tech and automotive related symbols push call to put ratios above 2:1. In the table above, which features yesterday’s closing OCC top 20 stats, I have highlighted all symbols that rank above 65% in the call column.

Which stands in stark contrast to what I’m seeing on the IV front:

evil_separator

It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and misinformation. If you are interested in becoming a subscriber then don't waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Please login or subscribe here to see the remainder of this post.


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator