TradingEdge

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NVDA positioning update after down 9%. Some support at 95. Main support is at 90. No major put delta below 90-95. Traders are not right now expecting big decline past that. 100 now becomes resistnace with strong put delta there. Needs volume to break higher. We have filled the earnings gap.	57
Positioning data into an important NFP report. If we see unemployment rise above expectations, markets will take it as a recession signal. With AMZN earnings already weak, and INTC down 20%, this could lead to a nasty day. Market positioned for more downside as we see with VIX and QQQ positioning.	56
Dell is down significantly over the last month. A look at positioning shows little to no call delta (bearish), bur also not much put delta below spot price. This is a sign that traders are starting to see limited downside from here most likely.	56
ServiceNow CeO comments looking v bullish for NOW, fundamentally. I am bullish indeed on NOW for longer term holding. Ppsitioning bullish, near term supp at 780 resistance at 830. But longer term calls build on 900.	56
Citi removes the positive catalyst watch on NVDA after chip delay. Citi moving over bearish IMO. But is contributing to the strong sell off in NVDA this morning. See positioning update I posted.	55
DXCM up 7% since this post. DXCM positionoing continues to be bullish with calls on 75. Sell off was too harsh	53
BTC clips 50k as per my post yday. I mentioned 50k as max drawdown. let's see if we can hold it in light of events overnight.	53
SMH under extreme pressure with the positioning. Barely any ITM call delta. Put delta increasing. Can try to hold the 200 support as shown. Put delta tails off after 190, hence unlikley to go much past there. Depends a lot on NVDA. This is about as bearish as traders can get. no Cal delta only put	53
VIX seasonality chart also supports that we tend to see a spike from July into August, before tapering off throughout August. Supports the suggestion from the term structure that VIX should decline later this month.	52
As mentioned, forward earnings multiples are starting to look cheap on many names when you remove the smoke. This is googl (trailing, but still). Here we see positioning too. Strong itm. Itm puts are going to expire soon. For now resistance at 170. Skew improving.	52

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