Agree (on the pullback.. based on 60m strong divergences on /KC coffee futures). The issuer retired JO & JJOFF is the older version of JO (it formerly had the ticker JO) which they moved to trade OTC, if I recall correctly, when they issued the new (no longer traded) variation of JO.

Bottom line, I don’t know what risks are involved with trading JJOFF or how well it tracks the price of /KC (coffee futures) so I really can’t be much help there. Also, I’d imagine JJOFF is thinly traded so not sure if you’re broker would even have any shares to lend you to short.

Also, JJOFF is about to hit a high that goes back to 2016. Very steep increase. Might see a pullback to $21.32 quickly

https://i.imgur.com/sbOX4Yn.jpeg

I also don’t use it, but another TA specialist that I follow uses it and seems to think it is pretty effective. The concept makes sense- market makers controlling the price around dense pockets of options. I don’t have a tool for charting it- it seems like I could code a script for thinkorswim (or buy one). They also have websites like quanttradingapp that plot it for a fee. I’ll have to investigate more.
Edit: I found a free thinkscript one here: https://twitter.com/2187Nick/status/1750619730904519112?s=20

I’m actually long Walgreens, got hurt recently but will continue to hold or add on. I’m ok holding a long time and getting a little dividend . I also thought the chart looked like a potential bull setup recently

Another tool I recommend to use is the Expected Move on a stock from the options table. Using TD Ameritrade ThinkorSwim – goto Analyze tab / Click “Think Back” button. If you change the date to the weekend before, you can see the change in stock price for this week and future weeks. EG NVDA last week closed at 881 and had a EM of +/- 42 (this equates to 1 standard deviation) or 68% chance the stock will close the week within that range (ie 840-920). 2 SD is 95%. I use this when selling options on a weekly basis. Given NVDA is sitting on the low end of the EM, I wouldn’t expect it to drop a lot more this week. Of course it can but rather short near the top vs the bottom. Looking at QQQ, 428 was the low end target EM for this week for 1 SD, 418 is 2 SD. I been selling naked calls on NVDA using this data for the past few weeks with good success. I have been afraid to shorting it directly. VOL is NVDA is super high so you can sell options way out of the money and collect some nice change every week.

Hi Randy, That’s great. I’ll be looking for that reversal candle. Think it may be sooner rather than later. Thank you very much.

I don’t factor that into my trading but always looking for new tools to add to my TA box so if you have any charts or links on how to use GEX you recommend please share them. Thx.