By Lawrence G. McMillan This week, $SPX has tried to break out over the top of the triangle formation that has inhibited price movement since early June. Indicators have improved somewhat, so that is certainly a possibility. However, the next resistance level at 7600-7620 is the all-time highs, and there would need to be a clear breakout over that level in order to turn the $SPX chart to a fully "bullish" status. There is support at 7420 (tested briefly a couple of times in the past week), with strong support at 7300, near the bottom of the triangle. A move below 7300 would be quite negative, and would probably indicate a quick test of longer-term support in the 7050- 7100 area. Equity-only put-call ratios have been rising for over a month, and that is a bearish weight on the stock market.

$Oracle(ORCL)$ - Underlying: ORCL - View: Cautiously Optimistic / Short-term oversold bounce. Target initial resistance at $155. - Strategy Type: Debit Spread (Directional, Bullish) - Options Contract Portfolio: - Buy 1 ORCL 17 Jul 2026 $145 Call - Sell 1 ORCL 17 Jul 2026 $155 Call - Max Gain & Loss: Max Gain = $5.00 ($10 spread width - $5.00 debit). Max Loss = $5.00 (initial debit paid). - Initial Cost/Credit: Net Debit of ~$5.00 (estimated from chain mid-prices: $4.55 buy - $1.60 sell).

$Affirm Holdings, Inc.(AFRM)$ - Underlying: AFRM - View: Cautiously optimistic for a continued move towards the $87-$90 resistance zone, following the recent breakout above $83.70. - Strategy Type: Debit Spread / Directional Bullish - Option Contract Portfolio: - Buy 1 AFRM 17 JUL 2026 $84.00 Call @ $3.10 (Ask) - Sell 1 AFRM 17 JUL 2026 $89.00 Call @ $1.10 (Bid) - Max Gain & Loss: - Max Gain: $200 per spread (($89 - $84) * 100 - Net Debit) - Max Loss: $200 per spread (Net Debit Paid) - Initial Cost/Credit: Net Debit of ~$200 per spread (Paid to enter).

$Micron Technology(MU)$ - Underlying: MU - View: Cautiously optimistic, short-term oversold rebound. Expecting a move towards the $1073 resistance, but not a decisive breakout. - Strategy Type: Debit Spread / Directional Bullish - Option Contract Portfolio: - Buy 1x MU 2026-07-17 $1000 Call - Sell 1x MU 2026-07-17 $1025 Call - Max Gain & Loss: Max Gain = $1,450 (($25 spread width - $10.55 debit) * 100). Max Loss = $1,055 (Initial Debit * 100). - Initial Cost/Credit: Net Debit of ~$10.55 (Using mid-prices: Buy 1000C @ $33.275, Sell 1025C @ $22.725).

$3D Systems(DDD)$ - Underlying: DDD - View: Cautiously Bullish, targeting a move towards resistance at $3.27. - Strategy Type: Directional Bullish / Debit Spread - Option Contract Portfolio: - Buy 1 DDD 2026-08-21 $3.0 Call (Ask: ~$0.60) - Sell 1 DDD 2026-08-21 $3.5 Call (Bid: ~$0.25) - Max Gain & Loss: Max Gain = $0.10 per spread ($50 per 5-lot). Max Loss = $0.35 per spread ($175 per 5-lot). - Initial Cost/Credit: Net Debit of ~$0.35 per spread.