What's Your Assumption? - September 24, 2025 - What's Your Assumption: Tom Gets Short SPX and BABA on Morning Rallies

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Hosts Tom and Tony conducted a live trading session responding to viewer trade suggestions, with notable bearish sentiment from typically bullish customers. Tom executed several trades including selling SPX 700-725 call spreads in November, BABA 195-210 call spreads after the stock's $13 rally, and AMD 150/152.5 put diagonals. The standout trades involved high implied volatility names like Bloom Energy (BE) with 117 IV rank after a $9 decline from recent parabolic moves, and Rocket Lab (RKLB) with 34 IV rank. Tom noted the market showed "good bear market action" opening higher then fading, with most stocks giving back gains except Tesla (+$10), Costco (+$7), and AVGO (+$12). The session emphasized trading into strength on the upside while avoiding stocks with poor option liquidity like ISRG where markets were $5 wide.