Daily Morning Brief; August 10, 2026
Market Overview
The SPY is putting in its 7th straight close above the 21 EMA and this trend is clean. The stack is stacked - 8 over 21 over 50 over 200 with a healthy +9.64 spread between the 8 and 21. We’re not looking for a pullback to the 21 here, that would take a real flush to get back to 754. The 8 EMA at 764 is your nearer support if you want a level to lean on. VIX at 15.2 tells you there’s no fear in the tape right now.
Top Setups
Nothing in today’s flow scored >= 70.
Unusual Activity
🔔 COO
Calls Bought · Strike: 85.0 · Exp: Feb27 · 1607 contracts · $793K
Someone stepped in and bought the 85 calls out to February for around $793K, a real bet with size behind it at 1607 contracts. The chart is right at an inflection with price sitting near the 8 EMA at 73.98 and the 200 day at 73.15 acting as the bigger line in the sand. The 8 is back over the 21, so a reclaim and hold above 73 puts this back in gear with room to run.
CooperCompanies (Nasdaq: COO) is a global medical device company operating through two segments: CooperVision, a leading player in the soft contact lens market, and CooperSurgical, a fertility and women’s healthcare device business. The company has delivered ten consecutive quarters of earnings beats and is currently in active discussions to divest CooperSurgical, a move that would transform it into a pure-play contact lens company. A $271.6 million litigation charge tied to a 2023 CooperSurgical fertility media recall weighed on Q2 2026 GAAP results, but management has characterized the settlement as clearing the way for an accelerated sale process.
Crime signal: MEDIUM — The CooperSurgical divestiture process is publicly confirmed as active with multiple interested parties, and the February 2027 expiry of the call position provides a window that directly brackets the period in which a deal announcement would be most likely to occur, making this a plausible informed positioning scenario around a known but timing-uncertain binary event.
