New format today - great day to test it - what a horror show. Narrative for narratives sake is not helpful. Visual aids are far better. I hope you like it
Regime
Opening
Bullish premium dominates today at $136.8M versus $48.9M bearish, producing a $87.9M net bull lean. CRWV leads all names at $16.1M, followed by MU at $15.1M and NBIS at $13.5M. Bearish conviction is concentrated in AMD at $8.8M and SPCX at $7.3M.
Options Flow Heat Map
A note on SPCX here - volatile market and a bearish risk reversal for SPCX giving it a big bearish position in the heat map
This trade is very long dated and crossed so just as likely to be bullish. Market Makers keep bid offers very wide this far out to avoid being picked off and if it is crossed it is negotiated. I can’t tell you for sure but this conflicts with my dark pool so I put a warning triangle on the flow to treat with caution.
