Thursday, September 17, 2026 · Pre-market · Data: OptyTrades screener (prev. close)
▶ OptyTrades on YouTube
Real wheel trades walked through end to end — entries, assignments, covered calls and the repairs in between. Subscribing, hitting like and leaving a comment takes a second and genuinely helps the channel grow — thank you to everyone who already has.
Subscribe on YouTube →The open in three lines
Futures are pointing higher across the board this Thursday morning after a broad Tuesday-style selloff dragged most sectors lower on Wednesday — energy and financials led the retreat, while overnight headlines include a Bank of Japan rate decision and crude oil pulling back below $101.
What happened
Wednesday's session closed in the red across all four major indexes. Energy was the worst-performing sector — oil prices above $100 have sharpened concern about the cost side of the economy, and energy stocks fell with crude. With WTI crude oil back above $100 per barrel, the near-term inflation outlook has become more uncertain, per Edward Jones. Financials fell sharply, with the sector's median name off more than 1%. Communication Services slid roughly 0.8%. Only Utilities and a small cluster of miscellaneous names finished in the green. The Dow bore the heaviest index-level loss. The VIX rose nearly 3% on the day and is up about 7.6% on the week.
| Index | Close | Change |
|---|---|---|
| S&P 500 | 7,551.81 | -0.45% |
| Nasdaq Composite | 25,978.43 | -0.01% |
| Dow Jones | 51,461.90 | -1.21% |
| Russell 2000 | 2,858.81 | -0.40% |
| VIX | 17.71 | +2.97% |
What it means for premium sellers
The VIX closed at 17.71, placing us squarely in the Balanced band (16–20). Term-structure data is unavailable this morning, so the shape of the vol curve cannot be read — the VIX level alone is what we have. The options market is pricing about ±1.08% for SPY through Friday's close and about ±3.27% through October expiration; for QQQ, the market is pricing about ±1.32% through Friday and about ±4.39% through October. Premium is paying at a moderate level consistent with a Balanced deployment stance.
Today and this week
Today — Thursday, September 17: Weekly jobless claims are scheduled at 8:30 a.m. ET, covering the week ended September 13. The prior week's reading came in at 206,000, loosely aligned with expectations, according to Trading Economics — a trend of low claims that has held since mid-July. A consensus estimate for today's print was not found in search; no figure is offered here.
This week: Next Thursday, September 24 at 8:30 a.m. ET, another weekly claims report is scheduled.
FOMC: The next decision is October 28 — 41 days away. Economists surveyed were nearly unanimous in expecting the Bank of Japan to raise its policy rate by 25 basis points to 1.25% at its September 17–18 meeting, per T. Rowe Price, adding a cross-current for risk markets overnight.
Earnings this week: The largest reporter on the calendar is Cintas, due before the open on Tuesday, September 23 — the options market is pricing about ±5.57% for that print, with Yahoo consensus at $1.34 EPS. Costco reports after the close on Wednesday, September 24; the options market is pricing about ±3.86%, with Yahoo consensus at $6.54 EPS. Paychex also reports Tuesday morning, September 23, with Yahoo consensus at $1.32 EPS.
VFS reports this morning before the open — the options market is pricing about ±8.01%, with Yahoo consensus at -$0.33 EPS per share.
In the news
- JB Hunt Transport fell 13.3%, the steepest single-session drop among the names we track on Wednesday — the integrated freight and logistics company was the day's most notable large-cap loser in Industrials. No wire-level explanation was carried; the move coincided with a broad risk-off session in which the Dow shed more than 1%.
- Forgent Power Solutions surged 11.1% after reporting 94% revenue growth and 375% bookings growth in its latest quarter, with multiple investment banks lifting price targets, per The Motley Fool.
- Tesla cut prices on its Model 3 and Model Y in China as a domestic price war intensifies and year-over-year sales fell 12%; however, The Motley Fool notes the Shanghai factory is compensating through export volume.
- Nvidia has returned $46 billion to shareholders through dividends and buybacks in the first half of its fiscal year, with a potentially larger dividend increase ahead, per The Motley Fool. The company carries a reported $5.1 trillion market cap.
- Eli Lilly holds a 60% U.S. share of the weight-loss drug market and is gaining ground in the oral GLP-1 segment, according to The Motley Fool, even as Novo Nordisk's Wegovy pill currently leads in new prescriptions.
- Baidu faces a securities class action lawsuit, with Rosen Law Firm filing on behalf of investors who purchased shares during a specified class period, per GlobeNewswire — sentiment on the name is negative.
- The aerospace and defense equipment industry is positioned for growth driven by M&A activity and resilient air-travel demand, though supply-chain disruptions and labor shortages remain headwinds, per Zacks Investment Research — with HEICO, ATI and AAR highlighted.
Names in play
Airlines dominate the screen this morning, buoyed by a broad pullback from highs and vol that remains elevated relative to recent ranges.
$LUV $39.15 Southwest Airlines Company
IV 45% · IV Rank 52 · IV/HV 1.56x · Wheel Score 90 · Assignment Quality 71 · Reports Oct 21 after the close
Reference: $36 put, Oct 23 (36 days, monthly) · $1.12/share · 3.11% on cash · 31.5%/yr · Δ 0.24 · open interest 52 — thin
Southwest pulled back from its 52-week range into a zone where premium is historically more attractive.
$UAL $106.30 United Airlines Holdings, Inc.
IV 50% · IV Rank 51 · IV/HV 1.46x · Wheel Score 96 · Assignment Quality 68 · Reports Oct 21 after the close
Reference: $102 put, Sep 25 (8 days, weekly) · $1.41/share · 1.38% on cash · 63.1%/yr · Δ 0.24 · open interest 53 — thin
United trades at a low earnings multiple with strong forward trajectory.
$GM $84.29 General Motors Company
IV 35% · IV Rank 51 · IV/HV 1.36x · Wheel Score 77 · Assignment Quality 78 · Reports Oct 20 before the open
Reference: $82 put, Sep 25 (8 days, weekly) · $0.93/share · 1.13% on cash · 51.7%/yr · Δ 0.27 · open interest 1,095
General Motors sits in the upper part of its 52-week range with a modest dividend; the weekly market is more liquid.
$UBER $70.97 Uber Technologies, Inc.
IV 36% · IV Rank 41 · IV/HV 0.86x · Wheel Score 80 · Assignment Quality 71 · Reports Nov 3 before the open
Reference: $69 put, Sep 25 (8 days, weekly) · $0.69/share · 1% on cash · 45.6%/yr · Δ 0.26 · open interest 782
Uber is held in the Ladder and also appears here as a candidate; the CEO's recent open-market share purchase drew attention to the name, and the ride-share platform is navigating the longer-term driverless-vehicle question.
$DAL $77.87 Delta Air Lines, Inc.
IV 45% · IV Rank 40 · IV/HV 1.78x · Wheel Score 93 · Assignment Quality 77 · Reports Oct 8 before the open
Reference: $75 put, Sep 25 (8 days, weekly) · $0.95/share · 1.27% on cash · 57.8%/yr · Δ 0.23 · open interest 251
Delta is the first major carrier to report this quarter, and it sits in the same airline pullback that put Southwest and United here.
How the last five aged
Featured Sep 11 · 6 days ago
| Name | Then → now | Change | vs reference |
|---|---|---|---|
| NU | $15.02 → $13.81 | -8.06% | below $14 put |
| LUV | $38.69 → $39.15 | +1.19% | above $35 put |
| HAL | $36.07 → $34.51 | -4.32% | above $34 put |
| UAL | $106.49 → $106.30 | -0.18% | above $97.5 put |
| ALLY | $42.17 → $40.31 | -4.41% | above $40 put |
Four of five names from the September 11 edition stayed above their reference strikes — LUV, HAL, UAL and ALLY all held — while NU moved below its $14 reference strike, sliding 8.06% over the six days since that edition.
Opty's books
- Opty Weekly v1 — winding down, 2 positions running to expiry; +10.80% on capital, +29.21% annualized, 93% wins
- Opty Ladder — 9 open; 51.8% deployed vs a 56% target (Balanced band); +1.47% on capital (24 days old, too new to annualize), 100% wins
- Opty Monthly — 6 open; 55.2% deployed vs a 56% target (Balanced band); +9.81% on capital, +26.52% annualized, 100% wins
Worth watching
- $PCG in Opty Ladder: $14 put (Sep 18), closed $13.35, 4.9% inside the strike, breakeven $13.75. A Recovery DCA lot: in the money is the intent.
- $CCL in Opty Ladder: $23 put (Sep 18), closed $22.35, 2.9% inside the strike, breakeven $22.52. A Recovery DCA lot: in the money is the intent.
- $UBER in Opty Ladder: $71 put (Sep 18), closed $70.97, 0.0% inside the strike, breakeven $70.27
- $NFLX in Opty Ladder: $74 put (Sep 18), closed $76.41, 3.2% of cushion
- $CMCSA in Opty Ladder: $25.5 put (Sep 18), closed $23.73, 7.5% inside the strike, breakeven $25.27
- $HOOD in Opty Ladder: $105 put (Sep 25), closed $104.42, 0.6% inside the strike, breakeven $103.36 Down 5.5% in the last session.
- $NCLH in Opty Ladder: $14 put (Sep 25), closed $14.53, 3.6% of cushion
- $AFRM in Opty Monthly: $70 put (Oct 16), closed $71.58, 2.2% of cushion
- $CCL in Opty Monthly: $22 put (Oct 16), closed $22.35, 1.6% of cushion
- $CRDO in Opty Monthly: $200 put (Oct 16), closed $161.49, 23.8% inside the strike, breakeven $187.70
- $PCG in Opty Monthly: $13 put (Oct 16), closed $13.35, 2.6% of cushion
- $AEO in Opty Monthly: $15 put (Oct 16), closed $14.81, 1.3% inside the strike, breakeven $14.28
Jim's own book: +17.14% on account over 252 days, 92% wins (80W/7L). Track record →
Every position, priced live: the AI Trader page →
One thing worth knowing
A short put slipping in the money is an assignment risk — but the breakeven, not the strike, is the line that determines whether the position is ahead or behind at expiry.
When "in the money" is not a loss
A short put going in the money is an assignment risk, not automatically a loss. The strike is where shares get put to the seller. The breakeven is the strike minus every dollar of premium collected on that name, and it is the breakeven that decides whether the position is underwater at expiry. Between those two prices, assignment happens and the trade is still ahead. That gap is why the wheel has a second half: assignment is the trade doing what it was structured to do, buying shares at a named price, at a discount by the premium already received.
⚠ Educational Only — Not Financial Advice
All market analysis and position data shared here is for informational and educational purposes only. Nothing in this email constitutes financial advice or a recommendation to buy or sell any security. Options trading involves significant risk of loss. Always conduct your own due diligence and consult a licensed financial advisor before making any investment decisions.