MTM Options Trader Newsletter - Life in the Fast Lane

[image]() [image] This Week in the Market Stocks could not retain their bullish bias from the previous week with the major indexes dipping a tad. Buyers did not turn their backs on the market completely, however, as a modest rally closed out last week. The market has continued to take potentially negative news about the economy and a recession in stride without a big selloff. Whether the big drop will ever come is anyone’s guess, but stocks are holding their own for now. Overall implied volatility levels were about the same as the previous week, with the three major indexes still trading below their 50-day and 200-day moving averages. A neutral bias on the overall market may be in order as the indexes continue to slop and chop around. The market will take another breather on Monday as there will be no trading because of the Fourth of July holiday. When the market reopens on Tuesday, there will be several economic reports worth noting including the notes from the Federal Reserve’s last meeting due out Wednesday afternoon. In addition, there are a couple of Fed members scheduled to talk on Thursday afternoon. If that were not enough, the June jobs report will be released Friday before the open. Quarterly earnings remain slow. Happy Fourth of July and have a healthy and safe rest of your week! Jul 5: Factory Orders Jul 6: JOLTS Jul 6: FOMC Minutes Jul 7: Jobless Claims Jul 7: Trade Balance Jul 8: Unemployment Jul 8: Wholesale Inventories Jul 8: Consumer Credit [Read Our Blog]() Life in the Fast Lane Market timing is often defined as moving money in and out of the market or switching into other asset classes. But is can also mean timing your entry correctly. That is what I want to talk about here. But let’s be honest, as option swing traders (generally in the trade for 2 to 5 days), there is always the unknown of what the market may be the next session if holding the position overnight. That said, patience and the correct timing can still vastly improve your odds for success. Training for Option Traders and Rockstars If you’ve ever taken a crack at learning guitar, you know you’ve got to loosen up those fingers. Get ’em moving. The best musicians [Continue Reading ...]() MTM Watchlist Here are a few trade ideas we will be considering in group coaching class this coming week: META – The stock has been trading in a fairly tight range making it a possible short iron condor candidate heading into this week. VLO – Oil and energy continue to struggle to move higher after dropping lower the previous several weeks. Potential bear call spread will be looked at again. AMZN – This stock remains on the radar for bull put spreads around some support at $102/$103 and potential bull call spreads if the market moves 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 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