It is 6/23/2024!! We just had the monthly June options expiration on Friday. For the last 3 days NVDA traded more options than SPX. And NVDA and SPY options together accounted for 30% of the options volume of the day. Hence I wrote a couple of posts with the title NVDA is the market. So does this continue now that the June options expiration is done? My answer is NO. I can say for sure that this coming week, we will not have NVDA trade more options than SPX. The final week of June which brings about the end of Q2, is usually weak. We have narrow breadth and participation from other stocks 495 stocks of S&P500. Only the AI-tech plays like NVDA, MSFT, AAPL, GOOGL and META have been rallying and holding the market. With the support that the monthly options expiration usually provide gone, we are most likely going to see some consolidation or down move in S&P and Nasdaq.
AMZN & GOOGL long
AMZN & GOOGL long
AMZN & GOOGL long
It is 6/23/2024!! We just had the monthly June options expiration on Friday. For the last 3 days NVDA traded more options than SPX. And NVDA and SPY options together accounted for 30% of the options volume of the day. Hence I wrote a couple of posts with the title NVDA is the market. So does this continue now that the June options expiration is done? My answer is NO. I can say for sure that this coming week, we will not have NVDA trade more options than SPX. The final week of June which brings about the end of Q2, is usually weak. We have narrow breadth and participation from other stocks 495 stocks of S&P500. Only the AI-tech plays like NVDA, MSFT, AAPL, GOOGL and META have been rallying and holding the market. With the support that the monthly options expiration usually provide gone, we are most likely going to see some consolidation or down move in S&P and Nasdaq.