Hello!
Futures higher once again this morning, but inside the 0DTE expected move. The past few mornings the move pre-market had been at or even a little more than what options had been pricing for the entire day. The pre-market gap volatility is something to keep an eye on as it gives a sense of any reversal from negative gamma to positive gamma conditions and how much overnight chasing of stocks is happening because of that. This afternoon we get FOMC minutes, and of course tomorrow morning is CPI.
Today’s Expected Moves:
- SPY: 0.6%
- QQQ: 0.7%
Earnings season begins over the next several days. Tomorrow morning we hear from Domino’s Pizza and Delta Airlines, then JP Morgan, Wells Fargo and more on a big Friday morning. Next week things speed up even more with Tesla and more. Here’s a video primer on earnings and some detail on the banks reporting. Watch below:
Pre-Market Movers:
- Plug Power Inc (PLUG) +13.41%
- Exxon Mobil Corp (XOM) -3.08%
- Tesla Inc (TSLA) +0.81%
- Pioneer Natural Resources Company (PXD) +1.52%
- Silk Road Medical Inc (SILK) -47.82%
- Novo Nordisk A/S ADR (NVO) +3.91%
- Micron Technology (MU) +1.35%
- Nvidia Corp (NVDA) +0.78%
- Amazon.com Inc (AMZN) +0.65%
Economic Calendar:
- At 08:30 AM (EST) PPI MoM (Sep) Estimates: 0.3, Prior: 0.7
- At 10:15 AM (EST) Fed Waller Speech Impact: Medium
- At 02:00 PM (EST) FOMC Minutes Impact: High
- At 12:15 PM (EST) Fed Bostic Speech Impact: Medium
Options AI Scanner Highlights:
- Overbought (RSI): PANW (69), X (68), UNH (67), PLTR (67), ZS (66), TTD (63)
- Oversold (RSI): BB (22), MDLZ (25), MCD (26), UAL (29), AAL (30), SCHW (30), DG (31), LUV (31)
- High IV: SRPT (+464%), IBM (+148%), PG (+140%), JETS (+133%), KO (+132%), GE (+130%), CL (+130%), UPS (+129%), PYPL (+127%), PENN (+127%)
- Unusual Options Volume: EWG (+785%), WW (+727%), TUP (+723%), Z (+612%), PEP (+612%), U (+462%), AI (+449%), SNAP (+413%), TSLA (+402%), PLTR (+396%), AMD (+370%), ROKU (+353%), BA (+352%), USO (+328%)
Full list here: Options AI Earnings Calendar
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