There are 24 days before the July options expire, 59 the August and 87 the September.
On the jump, market stats, econ reports, trading calendar and a good book...
Stats
Blue chip stocks (SPY) closed the latest regular session down 1.7% from the prior close. During the day SPY traversed 2.2% high to low in a net move down of 1.7%. Friday's extremes: Open $111.41, high $111.90, low $109.41, close $109.57. SPY closed below the DeMark pivots. The next DeMark pivots are $108.25-$110.74. In total, 3 billion shares were traded on the three major U.S. stock exchanges, up 1.8% from the prior trading day. Econ reports: The Federal Open Market Committee caps a two-day meeting with an announcement about interest rates at 2:15 p.m. Eastern. I'd be shocked if they changed anything, but there will be many tea leaves read as the FOMC outlines their collective view of the economy. New Home sales are out at 10 a.m., and petroleum inventories at 10:30 a.m. | Everything you need to know about the economic indicators that drive the markets. From the staff of The Economist. |
Trading Calendar:
By my rules, at this point in the cycle I can trade July covered calls, iron condors, butterflies, and diagonal, calendar and vertical spreads. Also, September single calls or puts. Shares, of course, are good anytime.
Good trading!
OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we remerge from the wreckage.
New to Private Trader? Check out the Reader's Guide
No comments:
Post a Comment