PhD in Pumpanomics Pulls It Off

Ahhh the sound of new millionaires getting made and accounts getting margin called - it’s a beautiful day in the mania of the greatest casino on earth.

Anyone can get lucky once or twice, but the only people who survive in this game can be consistent year in and year out.

For every David Tepper there are 100x Cathie Woods.

On October 2, 2022 ARKK ETFs held 1.3m shares of $NVDA

Today that number is 390.22k.

From the chart below you can see the fund sold the first bounce from the low missing the entire run of 2023.

We’re bad at math but they had to miss gains of $100,000,000 or more.

What kind of person can be at the epicenter of $TSLA euphoria but then completely miss out on AI mania with $NVDA? ARKK has a price target of $2,000 a share of $TSLA by 2027! 

So if you’re feeling bad today for missing out on the NVIDIA lotto… Cathy Wood probably feels a bit worse. She missed the run and she looks silly. Smart people never want to look silly.

It pains us to look but here goes nothing…

$NVDA 320c at the close yesterday 5.68

$NVDA 320c at the high today… 74

5.68 —> 74 = 12.03x

The 350s went 30x

The bull call spread and bear put spread we wrote about yesterday got absolutely annihilated in the move.

Traders are piling in for a move higher. We’re seeing million dollar call sweeps above the ask (very bullish) for the 420 strike all the way up to 530. Whatever you do, shorting a stock that blows through its all-time high and adding more in market cap than the company has generated in revenue in its existence is probably a bad idea. The good thing though this is America and you can do whatever you want.

Lesson: Never fade a man with a PhD in Pumpology.

FWIW Elon used to have a similar skillset, but he seems to focused on twitter trolling and the woke mob to bring that back to Tesla. In Counter-Strike terms he went from Global Elite all the way down to Master Guardian.

RIGD REPORTS on $SPY and $QQQ

When RIGD launches we’ll have 0DTE support for SPY and QQQ, so it’s about time we started to cover both.

NVDA is 5.58% of the QQQ, so it’s up significantly +2.20% today.

At the money calls:

331c at the close 2.00
331c at the high 8.70

Total return: 334.99%

Meanwhile everything 1.5-2% out of the money is up 6-13x.

A look at the EOD SPY Rip…

$SPY traded in range most of the day before moving up +2.70 0.66% in 31 minutes starting at 15:01.

Sometimes it’s news that triggers these rallies, but more often it’s 0DTE call buying.

Our options scanner picked up an at the ask sweep for 5000 $SPY 412 calls at 14:56. The price of $SPY at the time was 410.38. Three minutes later there was another sweep at the bid (sometimes bearish) for another 4000 412 calls.

RIGD sends the alert at 14:57.

SPY rallied and the options went from 0.13 to 0.99 in 36 minutes for a 661.54% return.

For the less (but still) degenerate, a 412c for today’s expiry went from 0.99 to 2.72 for a 174.75% return.

Development is in full throttle mode!

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