I believe it will take additional time before we know and can chart the outcome from today's end of quarter expirations and rolls. JPM completed rolling the larger "collar" out to the December 31st expiration. So, far, it appears that the action itself released some volatility and a lot of gamma with the market quickly moving back to where the call was coming in today. It will be a greater interest tomorrow to see if the "risk on" trade will pick up again. I flipped the labeling to show the more bullish view which is the markets are moving higher within ongoing Minor 5th waves. However, while I may lean into the view shown today, I am still leaving open the potential for the other view to still be in process.
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Disclaimer: Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC Rule 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will, or is likely to, achieve profit or losses similar to those shown.