There are 25 days before the last trading day for May options, 53 the June and 81 the July.
On the jump, market stats, mediawatch, rules, econ reports, portfolio and a good book...
Options as a Strategic Investment is a one-stop source of practical information, clearly presented, about the the trader's most important tool for managing risk. This book occupies an important place on my desk.
Stats
Blue chip stocks (SPY) closed the latest regular session down 0.4% from the prior close. During the day SPY traversed 0.7% high to low in a net move down intraday of 0.4%.
Today's extremes: Open $121.85, high $122.12, low $121.23, close $121.35.
SPY traded entirely within the range of the DeMark pivots. The next DeMark pivots are $120.85/$121.74.
In total, 3.6 billion shares were traded on the three major U.S. stock exchanges, unchanged from the prior trading day.
Econ reports:
Results of the consumer confidence survey will be reported at 10 a.m. Eastern. It's important because confident consumers tend to shop till they drop, and dropping shoppers mean prosperity is just around the corner. The indicator moves the retail sector but tends not to be a broad motivator of the market.
Looking ahead to Wednesday; The Federal Open Market Committee meets. Statement at 2:15 p.m. Will they continue their low interest rate policy? Probably. Will they drop a hint that higher rates lie ahead? Probably. Sooner rather than later? I wish I knew.
My Holdings
By my rules, at this point in the cycle I can trade May covered calls. Also, diagonal, butterfly, vertical and calendar spreads. And also, July single calls or puts. Shares, of course, are good anytime.
May expiry:
- BBY, bull call spread, c44/-c45
- CIEN, bull call spread, c18/-c19
- GE, bull call spread, c18/-c19
- QQQQ, bull call spread, c49/-c50
Dividend shares: JNK, NLY
Special situation: PALM
Zombie shares: MCO
Good trading!
New to private trading? Here's a look at How to Become a Private Trader.
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