MTM Options Trader Newsletter | Add This to Your Trading Mantras

[image](=) [image] This Week in the Market Stocks took a beating to close out the week with the major indexes succumbing to intense selling pressure. Less than desirable economic numbers scared away buyers because of concerns the Federal Reserve would stall the eventual cut in interest rates even longer. Volatility was extra high with crazy intraday moves on a daily basis. Because of the drop last week, a non-bullish bias seems to make sense until an uptrend is reestablished. Collars can be a life saver for your equity positions, and last week proved that. Implied volatility and option prices ticked way up. This week will be slow when it comes to economic reports with only a few worth noting below. At the time of this writing, there was only one Federal Reserve speaker scheduled and that will be on Thursday. The Fed apparently does not have a lot more to say after last week, at least not for now. Even though most of the big-name companies have already released their quarterly numbers, there are still several more to go in the coming weeks. As always, make sure to check when earnings are expected or if they have already been released. Have a safe, healthy and productive week! Aug 6: U.S. Trade Deficit Aug 7: Consumer Credit Aug 8: Jobless Claims Aug 8: Wholesale Inventories [Read Our Blog]( Add This to Your Trading Mantras I love to share my favorite sayings when it comes to option trading with my students. These mantras have helped me solidify some principles I needed to reinforce. And lately, there has been one in particular that I have stressed to my students, especially in this volatile environment: If you are down more than expected on your position and you get back to breakeven, always close out that position. Let’s take a quick look at what I mean by this because it might just make a difference for you too. What Does It Mean? [Continue Reading …]( MTM Watchlist Here are a few trade ideas we will most likely look at in MTM’s group coaching class this week: SPY – The market dropped in a big way last week and we will be hunting for more vertical credits like bull puts if a bullish rally is triggered. More doubles will be explored too. AMZN – After a huge drop Friday, the stock may be looking to reverse or continue to fall. With implied volatility skews expected, directional calendars will be front and center. TSLA – Short iron condors have done well on this stock over the past several weeks. More will be modeled out this week as well. [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