Sorry this is very late today. I had a minor emergency with my car and ended up spending much of the day at the garage.
Market Overview
The SPY bounced hard today off yesterday’s low of 758.79, closing at 769.64 and reclaiming the 21 EMA cleanly after just one day below it. That’s only 1 consecutive close above the 21 EMA so far, but the price action today was decisive, gapping up at the open and holding gains all session. The 8 EMA at 766.13 and 21 EMA at 764.93 are in a tight stack with price above both, which is constructive. VIX at 15.3 is relaxed and not flashing any warning signs. We want to see follow-through over the next couple days to confirm this wasn’t just a one-day snapback.
Top Setups — 5 Signals
PLTR — BULL · MEGA
Calls Bought · Strike: 250.0 · Exp: Jun27 17th · 1746 contracts · $3.2M
PLTR is sitting at 188.75 with the 8 EMA at 187.41 acting as immediate support, well above both the 50 day and 200 day. Someone put $3.2M into June 250 calls today, a longer-dated bet that gives this plenty of room to develop. Price is right near the 21 EMA entry zone at 182.23, so if you want a defined-risk entry, a pullback to that level makes sense for a risk reversal structure or straight call position.
AMD — BULL · MEGA
Calls Bought · Strike: 690.0 · Exp: Nov26 · 1000 contracts · $3.1M
AMD is running at 633.91, extended above the 21 EMA at 573.97 with the 8 EMA at 611.91 as the closer dynamic support level. The $3.1M in November 690 calls is a sizeable directional bet with about two months of runway. Price has been trending well above its moving averages in a clean bull structure, so the 8 EMA is where you’d look to add on any short-term dip rather than waiting for a deeper pullback.
