To The Moon

I. Key Events

Friday 9/18 Triple Witching: Massive Open Interest Expiring
Stock prices tend to converge toward the largest open interest zones (Gamma pinning effect). For specifics, refer to individual stock options GEX analysis (⚠️ note the App upgrade). → Directional flexibility is limited this week, making range-bound/seller strategies more suitable.

Software ETF (IGV) Surges 5%, Cybersecurity Leads
JPMorgan believes AI is pushing cybersecurity from "optional spending" to "mandatory investment." Watch for pullback opportunities in PANW and CRWD.

Crude Oil Maintains High-Level Volatility Above 100
Trump stated on 9/14 that "Iran is eager to reach a deal, and the U.S. is open to it." → A de-escalation signal; oil's upward momentum may weaken — watch for a spike-and-retreat.

Citi: Wednesday's Rate Hike Characterized as "Calibration/Fine-Tuning," Viewed as a Dovish Hike
Citi's research team expects the 25bp hike on 9/17 to be a "calibration" rather than a continuation of an aggressive tightening cycle. → A dovish hike; if the market interprets it as such, the negative is exhausted and risk appetite may recover.

II. Notable Block Trades (Directional Signals)

Buy Side (Clear Direction)

• TSLA (Tesla) Bought the 2027-06-17 expiry 290 Put, volume 10,000 contracts, notional $21.55 million (largest of the day). Long-dated bearish hedge.

• VIX (Volatility Index) Bought the 2026-12-16 expiry 21 Call, volume 22,500 contracts, notional $5.197 million. Betting on a volatility rebound / turning-point warning.

• GLD (Gold ETF) Bought the 2026-11-20 expiry 430 Call, volume 15,000 contracts, notional $9.15 million. Bullish on gold.

• XOM (Exxon Mobil) Bought the 2026-12-18 expiry 190 Call, volume 10,000 contracts, notional $3.3 million. Bullish on energy.

• GLW (Corning) Bought the 2026-10-16 expiry 165 Call, volume 7,350 contracts, notional $3.8588 million. Bullish.

Index Bearish Buys (Hedging Against Broader Market Pullback)

• QQQ (Nasdaq ETF) Bought the 2026-10-16 expiry 713 Put, volume 4,646 contracts, notional $6.969 million (sweep order). Post-Triple-Witching pullback hedge.

• SPY (S&P ETF) Bought the 2026-10-16 expiry 724 Put, volume 5,721 contracts, notional $2.2598 million (speculative). Same-direction hedge.

Sell Side (Premium Collection / Range Bets)

• TSM (TSMC) Sold the 2026-10-16 expiry 420 Put, volume 6,301 contracts, notional $9.5145 million. Collecting premium/taking assignment below 420.

• GDX (Gold Miners ETF) Sold the 2028-12-15 expiry 75 Put, volume 4,500 contracts, notional $4.7385 million. Long-term bet it won't break below 75.

• XLY (Consumer Discretionary ETF) Sold the 2027-01-15 expiry 115 Put, volume 5,000 contracts, notional $3.1 million.

• XLF (Financial ETF) Sold the 2026-09-30 expiry 55 Put, volume 13,500 contracts, notional $310,500.

• CVX (Chevron) Sold the 2026-11-20 expiry 240 Call, volume 3,200 contracts, notional $924,800. Capping upside.

Combo/Structure Trades

• CRWV (CoreWeave) Multiple two-sided sells: Sold the 2026-10-30 expiry 55 Put (two trades of 6,500 contracts each) + sold the 2026-10-09 expiry 97 Call, 102 Call, and the 2027-03-19 expiry 135 Call. Likely a short strangle/wide strangle, betting on range-bound oscillation.

One-sentence read: Index-side Put buying for hedging (SPY/QQQ) + stock-side seller premium collection (TSM/GDX/CRWV/XLE) coexist — institutions expect a defensive broader market around Triple Witching with individual stocks range-bound, consistent with the "Triple Witching convergence" theme. TSLA's large long-dated bearish Put is worth noting.

Today's one-sentence approach: Triple Witching convergence week — options expiration pinning + dovish rate-hike expectations → limited market flexibility, range-bound bias. Strategically, keep index Put hedges, sell premium at support levels on individual stocks (referencing block trades: TSM 420, GDX 75, XLE 66). Watch for cybersecurity pullbacks in PANW/CRWD and gold dip-buying. ⚠️ For specific convergence ranges, refer to GEX analysis.

⚠️ Disclaimer: The above is a pre-market information summary and strategy discussion, provided for educational and discussion purposes only. It does not constitute investment advice. Sell Puts/Calls carry assignment/exercise risk; naked selling carries asymmetric risk. Only operate with a willingness to hold the underlying at the strike price, manage position sizes, and set stop-losses. Investing involves risk.