SPY I know I was trashing chips earlier but this setup actually looks like it could be quite bullish. Reentered 4/25 $550c at the last minute.
VIX also looks like it wants to gap down. Couldn’t break above $32 again. I still have puts open but I’m suspicious that next week could see bullish price action.
SPYNVDAAMDSOX Chips will drag this down today. Perhaps the biggest bubble since dot com. People will soon come to the realization that these insane valuations came from Bitcoin mining (Nvidia), covid-chip shortages, and government spending. AI is here to stay but the media has spent the past 3 years hyping it up to justify these outlandish P/E ratios. Chips will soon come back to reality.