NVIDIA hugs 500, Stocks Grind Higher. 0DTE and SPX on Web.


Nvidia’s report has the stock basically unchanged while futures are green again after one day in the red. Nvidia was an interesting one from an options perspective as it went into earnings right around that big round number of 500, which also happened to contain the largest strike of open interest (500 line) in most upcoming expiries. (including this week’s). As is often the case that can create some gamma magnetization if the news isn’t about the vol to create escape velocity away from that strike. Keep an eye on NVDA the rest of the week if it stays near that strike or has enough buyers or sellers to overpower the gamma and move it.

Slow grind higher continues this morning as futures are higher, It’s a broken record here on the Orbit the past 2 weeks but the vol/IV conditions are for that to be the default setting in the market. A reversal and extended sell-off would like need an acceleration of red days that caused put buyers to emerge. One day red will not get IV higher, and every tick down in the VIX means more gamma in the market. Yesterday was a prime example with the indices lower on the day and the VIX lower as well. That’s one big reason you did not see the selling accelerate into the close or carry over into this morning.

Also, please watch the video on SPX and 0DTE for the Options AI web/desktop experience. Those things have been available on the mobile app but are now available on web and I do a quick walk-thru, hope you enjoy!

Nvidia Corp (NVDA) +0.11%
Palantir Technologies Inc Cl A (PLTR) +0.20%
Alibaba Group Holding ADR (BABA) +0.82%
Marathon Digital Hldgs Inc (MARA) -0.48%
Sofi Technologies Inc (SOFI) +0.45%
Plug Power Inc (PLUG) +1.54%
Astrazeneca Plc ADR (AZN) -0.51%
Riot Platforms Inc (RIOT) -0.18%
Trip.com Group Ltd ADR (TCOM) +4.03%
Coinbase Global Inc Cl A (COIN) -0.48%

Today’s Earnings Highlights:
Deere & Company (DE) Expected Move: 6.69%

Economic Calendar:
At 08:30 AM (EST) Initial Jobless Claims (Nov/18) Estimates: 225%, Prior: 231%
At 08:30 AM (EST) Durable Goods Orders MoM (Oct) Estimates: -3.1%, Prior: 4.7%
At 10:00 AM (EST) Michigan Consumer Sentiment (Nov) Estimates: 60.5%, Prior: 63.8%

Unusual Options Volume:

PBR (+1676%), DKS (+1021%), AEO (+846%), HPQ (+840%), KSS (+828%), DE (+823%), LOW (+804%), NVDA (+492%), AVGO (+492%), BIDU (+451%), ZM (+446%), MSTR (+342%), WYNN (+338%), GPS (+333%), MSFT (+286%)

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Based upon publicly available information derived from option prices at the time of publishing. Intended for informational and educational purposes only and is not any form of recommendation of a particular security, strategy or to open a brokerage account. Options price data and past performance data should not be construed as being indicative of future results and do not guarantee future results or returns. Options involve risk, including exposing investors to potentially significant losses and are therefore not suitable for all investors. Option spreads involve additional risks that should be fully understood prior to investing. Securities trading is offered through Options AI Financial, LLC, member FINRA and SIPC

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