There are 11 days before the June options expire, 39 the July and 74 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 1.3% from the prior close. During the day SPY traversed 2.0% high to low in a net move down of 1.6%. Thursday's extremes: Open $107.20, high $107.61, low $105.41, close $105.49. SPY traded entirely within the DeMark pivots. The next DeMark pivots are $104.35-$106.55. In total, 3.6 billion shares were traded on the three major U.S. stock exchanges, down 7% from the prior trading day. Econ reports: A couple of very minor retail reports: ICSC-Gold issues a weekly report on major retailer comparable store sales at 7:45 a.m. Eastern, and Redbook does something similar at 8:55 a.m. The market can be quirky and make something of these, but honestly, its no biggie. Fedhead: Gov. Elizabeth Duke speaks at 8:25 a.m. Eastern about what happens after the financial crisis. | 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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