Tony Zhang Sees Weakness Under SPX & NDX Surface, Offers UUP & APO Options Trades

Underneath the surface of the S&P 500 (SPX) and Nasdaq-100 (NDX) strength, there's a lot of weakness, says @OptionsPlay's Tony Zhang. He explains why the lasting rally across Treasury yields adds to warning signals in equities. That said, Tony points to trading opportunities in stocks and ETFs tied to the yield volatility. He offers example options trades for the Invesco U.S. Dollar Index Bullish Fund (UUP) and Apollo Global Management (APO).

Trading 360

24 Sep 2026

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