Good Lord Almighty. Sorry to make today all-GME, all the time, but this is wild stuff. Here is the Price Cone (whose IV ends yesterday, so once today is posted, it will be even wackier).
Beldar Conehead
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Full Speed Ahead
Below is from long-time friend of Slope, Evil Speculator, who wants me to stress it was written before the opening bell:
The retail option bubble continues higher with institutional traders watching on in utter awe as to the outright insanity that is taken place in front of their eyes. And of course are taking full advantage per the old aphorism that a fool and his money are soon parted. This is going to be extensive as Iām literally going to bombard you with charts and graphs today. So grab yourself a cup of Java or whatever non-GMO organic sustainable cruel-free tasteless concoction that tickles your fancy, strap yourself in, and get ready for a wild ride.
(more…)Intelcipation
Just like all other stocks tech-related, Intel (INTC) has been banging higher for years now. As shown by Slope’s quarterly earnings report calendar, this afternoon’s featured release is form the same firm:
Boeing Slips Under The Radar
Artist’s conception of the Boeing 737 MAX design process (photoshop via Hiking in the Light).
GEX Says “Hammertime”
For those who don’t know, GEX stands for Gamma Exposure. It is an options-based LEADING indicator that is derived through a calculation of all the gamma at all strikes and expirations on any given day in the S&P500 Index. The chart is free to access and can be found here.
High Gamma = high pushback against selling and Low Gamma = low pushback against selling.
As of Friday’s close, Gamma Exposure hit a very low point. A key point in a couple of ways.
The first is that it was less than 1.5B. When gamma gets this low it tends to be associated with falling prices and increased volatility.
The second is that GEX broke its uptrend line. I’m the only one I know of that uses it this way. You see, a little while back, I was doing some ongoing testing and analysis of the GEX and noted that it seemed to trend along with the SPX. Out of curiosity, I drew some UTL’s and plotted what happened when they broke down. I was surprised and amazed at the results. It was consistent going all the way back to the start of the data in 2011. Red dots are when GEX is <1.5B (GEX above, SPX below).
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