June 29, 2017

Triple Witching – Potential Credit Spread Tomorrow

Market Mumbo Jumbo

It has been an interesting options expiration week. The S&P 500 (NYSE: SPY) has lost a total of $0.30 since the close last week – a paltry decline. 

However, this did not stop Mr. Volatility from finally making an appearance. Options traders, particularly those of us who sell options premium, can finally rejoice. Options premium has finally moved back into this market. Now if the VIX could just hold 20 and move as high as 35 I would be one happy option trader.

With that being said, I look to place a position at some point tomorrow in the my new credit spread strategy. Stay tuned!

Options Indicator – Overbought – Oversold

Every ETF that I follow basically stay within a short-term neutral state today so I am not going to bother with the charts tonight. Time is limited and I need to concentrate on a few other service-based features than I plan to offer subscribers over the coming weeks.

You can see all of the performance results for the High-Probability, Mean-Reversion strategy here.

Daily Options Links of Interest

Summary

Same message: Not much has changed over the past few weeks – range-bound trading persists. I appears we could see the markets move sideways for a few more months. Are the summer doldrums already upon us? How long can SPY stay in this range of roughly $126 to $137? The question is, while I continue trading extremes in the HPMR strategy , how can I take advantage of the range bound movement at the same time. You guessed it – a credit spread! I will discuss this further in Weekly Options Report.

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