3/15 Almanac

Monday, March 15, is 4 days before the last trading day of March options, 32 the April and 67 the May.

Blue chip stocks (SPY) closed the latest regular session at $115.46, up 0.01% from the prior close.

In total, 3.1 billion shares were traded on the three major U.S. stock exchanges, down 3.1% from the day before.

On the jump, mediawatch, rules, econ reports, portfolio and a good book...

Mediawatch: The Narrative: Stocks didn't move much because mixed econ reports gave no clear direction as to the future course of the economy. This is a variation on the "market didn't move despite" theme. I always enjoy "despite" stories, since what they really say is that the reporter expected the market to do A, and they're to blame for not meeting the reporter's expectations. The Market Reporter's Credo: It's all about me, dude. AP's version, and Reuters'. Econ reports: International capital flows from the Treasury at 9 a.m. Eastern. Potential impact on forex, less so on stocks. Industrial production at 9:15 a.m. Includes the every popular capacity utilization rate, which is a big indicator of how well the industrial sector is doing. This report influences the FOMC as it sets interest rates. The FOMC meets the next day, on Tuesday, and will have a 2:15 p.m. announcement.

The guy who blew the lid off the bond industry in Liar's Poker takes on the collapse of capitalist finance.

My rules allow trades in April covered calls, iron condors and butterfly, calendar, diagonal and vertical spreads.  I allow myself to trade unhedged call and put option purchases that expire in May or later.

My portfolio consists of . . .

March expiry:

• AKS, iron condor, p19/-p20/-p25/p26
• GCI, covered call, s/-c15
• GME, bull call spread, c19/-c20
• WFC, iron condor, p26/-p27/-c29/c30

Shares for dividends: AOD, NLY.

Zombie shares: MCO, PALM.

My main task this week will be to unravel the March positions.

Good trading!


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Topics: S&P 500, SPDR, Spiders, AK Steel Holdings, Alpine Dynamic Dividend closed-end fund, Gamestop video game retailer, Gannett newspapers media, Moodys bond rating, Annaly Capital Management, Palm smartphone Pixi Pri, Wells Fargo bank financial.