Household Energy Delivered to Your Door!
Weekend Bag
Hope you all had a great weekend, this week has tons of potential with many popular earnings reports and a potential Bitcoin 70k Breakout. Let’s look at the flow.
Notable Flow:
SN 0.00%↑ 80P STO & 100P BTO 11/15
GEV 0.00%↑ 270/240 Put Spread 10/25
AMZN 0.00%↑ 220C 03/21/2025
CVE 0.00%↑ 22C 01/16/2026
SN 0.00%↑ 100/80 Put debit spread 11/15exp $2.7M in premium
Flow: This whale is creating a big put debit spread for 11/15exp. They are buying the 100 put for $2.72M and selling the 80 put for $20k in premium. Each leg with over 10,0008 in size. Now, the fills are not the cleanest with spot price of .02 on the 80 bid side and 2.72 fill for the ask side. Will have to see the open interest tomorrow to confirm. How to calculate max gain? The difference between the spreads subtracted by the premium difference. So in this case, it would be 20-2.7 which equates to 17.3. Max loss would be premium paid 2.7/contract.
Tough to make a case for a bearish idea on this chart in all honesty. Strong support seems to have been built around 104 with a great daily candle on Friday reclaiming the 10 & 20SMA’s. This trader’s ideal situation would obviously be an undercut of this 104 spot with some continuation towards the 50SMA just above 100. It is worth noting that SharkNinja reports their next earnings at the end of this month, Oct 31st.
GEV 0.00%↑ 270/240 Put debit Spread 10/25exp $1.36M in premium
Flow: This whale is opening a 30-wide put debit spread that expires this week! Not a lot of time with big size! they are buying the 270 put strike for $1.51M and selling the 240 put strike for $146k. 1,820 size in both legs. Max gain of this contract? 30 wide spread - (8.30-.8)= 7.5. 30-22.5 equates to 22.5/contract, which is the max profits on this contract. Max loss is premium paid=7.5/contract. We love math right?
GE Vernova has been on an absolute tear the past couple months increasing over 59% in value. Running alongside the other energy names such as VST, CEG, POWL and others. During Thursday’s session, the asset had a gap before showing weakness and selling the rest of the day. This was then followed by another red outside day on Friday. Mr. Whale is likely trying to catch a quick mean reversion short on this energy name as it has tapped the top of the STD channel as well as surging over recent weeks with little to no “cool-off” digestion from the move.
AMZN 0.00%↑ 220 Call 3/21exp $7.67M 12,851 Volume 4,535 Open Interest
Flow: This AMZN bull is much easier to understand that the previous two flow trades from above.
Quick tip: Up above, it shows that there is over $7.6M in premium for this contract. Great! But, what is more important is the green bar that is lit up in the second image. This is showing that a whale purchased 6,567 contracts at the ask for about $4M in premium for an average price of 5.96. And as you can tell from the yellow lines, whale is slightly down before market closed on Friday. Sitting right above 5.8/contract. Nice volume, nice open interest, now we will have to wait and see how much volume carries over into open interest tomorrow morning.
Slow and steady… wins the race? Huge if true. Amazon is currently up 32.41% YTD and has been a very slow grind. I’m sure most of you are familiar with the fiasco last time Amazon made all-time-highs with Jeff Bezos selling off stock in bulk (not to Costco). But here we are again, with a nice looking weekly chart, big size in flow, and seemingly a good start to earnings season thus far. Amazon has their next report on Oct 24th. Will they announce buybacks? Dividends? The degen tinfoil hat theories will be out in full force this week. Good chart reclaiming the 10/20wk-MA’s with weekly lows just below current price and closed above the ATH trendline. Amazon also is a major benefactor in regards to seasonality with Black Friday and other holiday shopping around the corner.
Interesting note: this time last year, AMZN 0.00%↑ increased over 37% from this date to the end of January 2024.
CVE 0.00%↑ 22C 1/16/2026exp $506k premium 5,115 Volume 2,326 Open Interest
This whale is betting $506k in premium for a 30% OTM move on CVE. Trading bought a 22C for 1/16/2026exp for an average cost of .99/contract. Great risk to reward in our eyes! Over 5,000 in volume and 2,326 open interest. Lots of time on this contract so no need to worry too much about time decay. Pretty straight forward trade.
CVE has been a relatively easy range trade for swing traders since Summer of ‘22 fluctuating between 15.50 & 21.21 for about 26-36% each direction. Nearing this support level of 15.50, we also have the 200wk-MA just above at 15.73. Aside from these being key levels on the higher time frames, oil remains a popular idea with war headlines from overseas and the Buffet special ( OXY 0.00%↑ ) also near YTD lows atop the 200wk-MA.
Thanks for joining us again, we hope you enjoy these neat ideas from whales across the ocean of trading and we’ll update you all on the OI tomorrow for the names listed above. Let’s have a great week.
Cheers,
Kian, Jersace, Jon