On the Day of Dread there is one trading day left for March options (one fourth of the quadruplicity), 29 the April and 64 the May.
A quadruple witching day is when stock index futures, stock index options, stock options and stock futures all expire.
Blue chip stocks (SPY) closed the latest regular session at $117.04, down 0.05% from the prior close.
In total, 3 billion shares were traded on the three major U.S. stock exchanges, down 6.3% from the day before.
On the jump, mediawatch, rules, econ reports, portfolio and a good book...
Mediawatch: Two news agencies in search of a Grand Narrative. Alas, there is nothing Grand about this market day, and the journalism reflects it. AP had stocks trading mixed after the econ reports, which says absolutely nothing. Reuters, with a sophisticated understanding that the indexes differ in their underlying construction, had the Dow Jones Industrial Average up because of Boeing, a component company, but the broad S&P 500 average down after the econ reports and earnings. No econ reports are scheduled. Scared away by the witches, I wouldn't be surprised to hear. 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. | New this week, from the author of Liar's Poker, a look inside the Doomsday Machine. |
My portfolio consists of . . .
March expiry:
- AKS, iron condor, p19/-p20/-p25/p26
- MCO, covered call, -c29
Zombie shares: PALM.
Good trading!
New to private trading? Here's a look at How to Become a Private Trader.
Topics: S&P 500, SPDR, Spiders, AK Steel Holdings, Alpine Dynamic Dividend closed-end fund, Moodys bond rating, Annaly Capital Management, Palm smartphone Pixi Pri.
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