Brandon Chapman booked a 92% gain today. It took a couple of hours.
He caught it by reading one number off the options tape. The S&P 500 closed up nearly 1%.
That move was not random. A wall of put contracts sat directly overhead.
Brandon watched the market break clean through it.
The Wall The Bulls Broke
Heading into today, the 7,500 level was loaded with hedging. Dealers held 27,000 puts at that strike against just 7,000 calls.
That 20,000 contract gap acted like a lid on price. The S&P pushed straight through it.
The pressure flipped to the upside. Brandon calls this a positive gamma structure.
Dealers sell into strength. They buy into weakness.
That stabilizes the market. The expiring puts then add fuel to the upside.
Brandon traded it live during his morning session. He bought a long call vertical just above the breakout for about $0.52.
His target was a dollar. It filled for the full dollar.
That is a 92% gain on the position.
Where This Market Goes Next
The path higher looks cleaner than it did Friday. Brandon laid out the exact levels he tracks into the weekend.
Tonight’s video breaks down the structure driving his bias:
- The weekly range runs from 7,400 on the downside to 7,600 on the upside. 7,500 is the pivot the bulls just reclaimed.
- A wall of 28,000 call contracts sits at 7,600. That level is the magnet Brandon expects the market to test by Friday.
- Downside accelerators stay quiet until the S&P slips below 7,480. The real danger zone waits at 7,400.
A grind to 7,600 puts the all time high back in play. Brandon favors the bulls if tomorrow opens near today’s close.
Two Short Squeezes Setting Up
The bullish tape reaches beyond the index. Brandon ran his Blockhunter scanner for names with heavy call buying.
Two stocks stood out in tonight’s video. Both carry high short interest:
- Iron (IRON) jumped 13% today on 25,000 contracts at the 55 strike. It carries 22% short interest and four squeeze bars, and Brandon is targeting 55 in the next week or two.
- Archer Aviation (ACHR) rose 7.8% on roughly 2.8 times its average call volume. Buyers loaded the $7 strike for August while the stock sits at 5.37.
High short interest turns steady call buying into a violent move higher. Brandon shows how he reads that pressure on the tape.
The $21 Million Bet Against Micron
Not every trade today pointed higher. One print stopped Brandon cold.
A single trader bought 30,000 Micron puts in one block for $7.15. That is a notional bet north of $21 million on downside.
Brandon calls it a whale. The strike sits far out of the money for now.
The risk builds if Micron loses its recent low. Brandon pinpoints the exact level where that block starts to bite.
