MTM Options Trader Newsletter - Why Not to Work on Vacation

[image](=) [image] This Week in the Market The market continued its descent lower as stocks opened the week by gapping down and closed even lower on the day. However, the major indexes were able to rally off session lows on Friday. Will that momentum carry into this week, or will this bear market continue? Despite so much negative talk about inflation, gas prices, slow economic growth and the Ukraine crisis, it does seem there are a few positives that can bolster bulls. But as has been the case in the past, the market can surprise. From a technical standpoint, the major indexes may be a tad extended to the downside and far away from their 200-day moving averages. At least a small bounce would not be out of the question this week. Implied volatility levels remain elevated. Looking ahead, the market is closed Monday in honor of Juneteenth. With volatility still rampant, a short week could be just what traders and investors need. Several economic reports expected this week with various Federal Reserve members expected to talk, including Fed Chair Powell on Wednesday morning. Quarterly earnings remain slow. Enjoy some time off and remember to start or continue to work on your option trading plan. Have a happy, healthy and prosperous week! Jun 21: Existing Home Sales Jun 21: Chicago Fed Activity Index Jun 23: Initial Jobless Claims Jun 23: Current Account Deficit Jun 23: S&P U.S. Manufacturing and Services PMI Jun 24: University of Michigan Consumer Sentiment Index Jun 24: New Home Sales [Read Our Blog]() Why Not to Work on Vacation I’m taking some time off on what I’ll call “a well-deserved vacation.” But I wanted to share this blog with you, well, while I’m on vacation. When I was a kid, my family never really went anywhere. There was one time my grandfather took all the grandkids to Disney World. Other than that, we pretty much stayed home. Once I started trading and earned a little money, I decided the family I planned to have would be well traveled. And, indeed, travel has become our family passion. The Traveling Trader One of the first trips Kathleen and I ever took was when she was pregnant with Sam. [Continue Reading ...](=) MTM Watchlist Here are several trade ideas we will focus on in group coaching class this week: AMZN - The stock showed some relative strength this past week, holding a support level and then moving higher on Friday. Potential bull call spread will be looked at with longer expirations. SPY – We have done numerous bear call spreads on this ETF over the past few months, and this week may be no exception. There are several potential resistance levels we have looked at from which to choose, including the $380 from this past week. NVDA – The stock seems to be finding some potential support around the $155 to $160 levels. Short iron condors just above and below those levels may be explored. [image]( We're honored to have Dan's Book Trading Option Greeks listed as one of the [Best Options Trading Books]() by New Trader U. [Buy Now on Amazon]( 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 calling (888) OPTIONS; 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 - 2022. 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