Buying Puts in Hood

Dear Profit Takeover reader,

Quad-witching is today and surprisingly, the volatility of the market VIX, has been falling off somewhat, but I am expecting wild moves next week.

SPY is currently up at the time of writing.

But I am not sure how the trading day will end.

I just had a nice session with the Profit Revolutionaries to set up some closing educational trades in SPX and XSP and checked back in with them again to trade the last few minutes of the close today.

We also took a look at HOOD from my watchlist and I helped them set up a put play there.

Robinhood Markets, Inc., based in California, allows traders to mobily trade stocks, funds, and cryptocurrencies…

I made a “riff” – or unofficial trade – on HOOD yesterday and decided to buy some puts today in an official trade.

My VIX traffic light has been green for weeks now but next week could finally turn yellow…

Which would mean wild moves for volatility –

So stay tuned and have a great weekend.

Until then,

Mark Sebastian
Founder, Profit Takeover

Volatility Forecast

My VIX traffic light is still green.

If the market holds its place, the light will turn yellow on Monday morning.

VIX and VVIX are both backing off.

From Yahoo Finance

We could see a threat of 20 next week if the market stays higher.

From Yahoo Finance

VXX is still out of whack which will cause potential craziness going forward.

Image from wallstreet.io

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TODAY’S WATCHLIST

1. Delta Air Lines, Inc. (NYSE:DAL)

I saw huge call volume in DAL on Friday.

Image from wallstreet.io

I think this stock is going up.

1. CSX Corporation (NASDAQ:CSX)

CSX is heading above 36 or potentially on its way to 40.

Image from wallstreet.io

I would be looking for a cheap call play here.

1. Robinhood Markets Inc (NASDAQ:HOOD)

HOOD is making a strong move higher.

It is probably time to face as the squeeze seems stretched.

Image from wallstreet.io

I gave a new put trade in HOOD during the Profit Revolution show today.

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