August 22, 2017

October Options Expiration Can’t Come Soon Enough

As traders we all have “those” months. Yes, the months that try every traders max pain threshold.
October has been one of “those” months for most traders. The “rip your face off” rally that came on 10/4 and off a new low in most of the major benchmarks, especially the small-cap stocks (IWM). The 14+ percent gains followed by one of the most volatile weeks (this expiration week) has been difficult to read for most traders.
However, the Theta Driver Options Strategy has performed with flying colors amid all of this volatility with my short strike (SPY Oct 128) well above the current price with only one day left until expiration. Typically, I would have rolled or taken off the position before the week of expiration with the latest being the Tuesday of options expiration. But, with SPY coming into the week in a short-term, extremely overbought state with strong overhead resistance and several unclosed gaps below I felt comfortable with my position.
I plan on adding another position for the November expiration cycle tomorrow or Monday. So,  subscribers stay tuned for an email and tweet.
Anyway, I have so much more to say, but I think it is better saved for the October Expiration Report.
Here’s the list of the ETFs that make up the High-Probability, Mean-Reversion Options Indicator. Hopefully (time permitting), I will be back with another post later this evening. Stay tuned!

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