Market Overview - The Dow Jones Industrial Average decreased by 0.1%, while the S&P 500 fell by 0.50% and the Nasdaq Composite dropped by 1%, marking its worst performance since mid-December [1] Geopolitical Concerns - Ongoing geopolitical tensions in regions such as Iran, Greenland, and Venezuela, as well as domestic issues in the U.S., are causing trader concerns [1] Supreme Court Expectations - Investors were anticipating a ruling from the Supreme Court regarding tariffs, which did not occur, contributing to market unease [1] Options Activity - There were 1,245 calls and puts with volume-to-open-interest ratios of 1.24 or higher, with notable activity in Shopify, Starbucks, and Pinterest, all of which are considered long-term investment opportunities [2] Shopify Options Analysis - Shopify exhibited four unusually active options with volume-to-open-interest ratios between 1.47 and 4.67, indicating potential trading opportunities [3] Multi-leg Trade Strategies - A Long Strangle trade involving Shopify's January 23 options includes buying a $170 call and a $155 put, anticipating significant stock movement in either direction over the next nine days [4] - The net debit for this trade is $420, representing 2.67% of the share price of $157.61, with a maximum loss occurring if the share price is between $174.20 and $150.80 at expiration, which has a probability of 44.8% [5] Expected Stock Movement - The expected price movement for Shopify over the next nine days is 5.07% or $7.98, with a higher likelihood of profiting from a downside move [6] Long Straddle Strategy - A Long Straddle strategy is also considered, where the strike price for both the call and put is the same, with a net debit of 20.41% of the stock price at $3,215 [7]