Morning Update

VIX is still low which means our expected range of movement for the SPX and SPY are still quite narrow between open and close.

Going into OpEx with ever swing slightly higher, we’re seeing more selling at the 4150 across expirations, so we’re building a lot of gamma expiration on OpEx and a lot of short call selling, and long puts.

QQQ is setting up the same way but with more pressure to the downside, as QQQ is heavily tech weighted, and SPY still has some exposure to flat to bullish areas like financials and energy.

Those looking for some LONG term plays might want to start charting Gol, and Financials.  Some of the heavy hitters in banking are at great value points, like MS, GS. JPM, etc, but those are both long duration plays they won’t pop tomorrow, however I do think they’re setting this up nicely for the coming economic regime.

Morning Update – June 2nd, 2022

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