There are 12 days before the June options expire, 40 the July and 75 the August.
On the jump, market stats, econ reports, trading calendar and a good book...
Stats
Blue chip stocks (SPY) closed the latest regular session down 3.5% from the prior close. During the day SPY traversed 2.6% high to low in a net move down of 1.7%. Thursday's extremes: Open $108.61, high $109.33, low $106.47, close $106.82. SPY traded entirely below the DeMark pivots. The next DeMark pivots are $105.22-$108.08. In total, 3.9 billion shares were traded on the three major U.S. stock exchanges, up 15% from the prior trading day. Econ reports: The only, lonely econ report: Consumer credit, at 3 p.m. Eastern. The data is for two months prior to the release month. As econ reports go, this one spells like stale cheese. It is widely ignored. The week's big events come on Thursday, international trade, and Friday, retail sales. | 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, August 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.
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