The last few days while the market has been a bit volatile, whipsawing between 233 on the SPY to 236, it is still stuck in its range. JPM earnings are tomorrow morning and this should give us some clarity going forward.
After bouncing off of the 50dma the market has had a nice comeback led by the financials and technology. All of the covered puts that I sold last week are trading nicely.
Besides Tuesday’s big drop in the markets the market was relatively calm, however, the broader market failed at resistance points, specifically the SPY at 235.5. This leads me to believe the market is more likely to fall this week at least early on.
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