MTM Options Trader Newsletter - What Has a Better Chance of Happening?

[image](=) [image] This Week in the Market The market looked like it was on its way to another record high until Thursday happened. Comments from a Federal Reserve speaker pushed the market off a cliff that afternoon, wrecking any chance for a bullish week. Buyers did step back in Friday to end the week on an upbeat note. The S&P 500 is still trading above its 50-day moving average, but it seems to be creeping slightly toward it. That said, other critical potential support levels are still in place, so a non-bearish bias continues to make sense for now. Of course, that is subject to change very quickly as we saw last week. The VIX and implied volatility levels jumped a little higher on the drop. It is another heavy week as far as economic reports and Federal Reserve speakers go. There are a couple of inflation numbers being released, including the latest CPI and PPI numbers. In addition, the notes from the Fed’s last meeting will be made public Wednesday. The latter part of the week is heavy with Fed speaker engagements. Quarterly earnings remain quiet, but the latest round is just over a week away. Have a safe, healthy and prosperous week! Apr 10: Consumer Price Index Apr 10: Wholesale Inventories Apr 10: FOMC Minutes Apr 11: Jobless Claims Apr 11: Producer Price Index Apr 12: Import Price Index Apr 12: Consumer Sentiment [Read Our Blog]() What Has a Better Chance of Happening? I ask traders this all the time when I am teaching technical analysis: “When you look at a chart, what has a better chance of happening?” In fact, we should ask ourselves this question in many situations that do not involve trading, but that is a discussion for another time. As option traders, we try to put the odds on our side through various means to gain an edge, and one of the most important is technical analysis. Support and Resistance Just using the simple thought process that support and resistance have a better chance [Continue Reading …]( MTM Watchlist Here are a few trade ideas we will most likely look at in MTM’s LIVE Advantage Group Coaching class this week: SPY – With the pullback in the market last week, bull puts and directional call calendars may take center stage. VLO – A long straddle worked well this past week. With the stock extended even more, and maybe not slowing down, a new straddle will be considered. META – This stock seemed ready to explode higher until Thursday’s pullback reined it in. Potential bull call spreads will be addressed with a move higher. [image](=) The strategies in this newsletter are for educational and informative purposes only. All information disclosed in this newsletter should not be considered complete in its entirety. Market Taker Mentoring, Inc. will not be held responsible for changes, oversights, errors or omissions. Dates, prices, news and other information may not be accurate. Please verify all information before trading. You alone are responsible for your own investment decisions. Options involve risk and are not suitable for all investors. Before trading options, please read Characteristics and Risks of Standardized Option (ODD), which can be obtained from your broker; by emailing investorservices@theocc .com; or from The Options Clearing Corp., 125 S. Franklin St., Suite 1200, Chicago, IL 60606. No statement in this newsletter is intended to be a recommendation or solicitation to buy or sell any security or to provide investment or trading advice. Traders and investors considering options should consult a professional tax advisor as to how taxes may affect the outcome of contemplated options transactions. Copyright Market Taker Mentoring, Inc. 2008 - 2024. All rights reserved. Reproducing or redistributing this content is a violation of federal law. [image] If you do not wish to be contacted via email, you can unsubscribe using this link: [Unsubscribe]( Unsubscribing from email notifications DOES NOT cancel your class, subscription or recurring payments. We recommend that current students do not unsubscribe from email notifications. If you unsubscribe from email notifications, you will not be notified on how to access the classes or subscriptions in which you are enrolled. Market Taker Mentoring, Inc. PO Box 117 Frankfort, Illinois 60423 United States