MTM Options Trader Newsletter - Option Trades for a Bullish Outlook

[image]( [image] This Week in the Market Market participants experienced yet another crazy week of trading. A big move lower the first part of the week was met with an unexpected rally at a support level on Thursday, followed by a gap higher on Friday that didn’t last. When the dust settled the indexes were down with the three majors all closing below their 50-day moving averages once again. Because of the move back lower, a non-bullish bias still seems to be warranted with potential resistance levels and a bearish move keeping many stocks at bay. Implied volatility levels have risen over the past couple of weeks and remain elevated. Traders will get a much-needed breather on Monday as the market is closed for Labor Day. It may be a good time to review some trades and your trading plan. Several economic reports are due out once the market reopens with a talk from at least one Federal Reserve member expected at the time of this writing. Quarterly earnings remain slow with the majority of releases still several weeks away. The Fed announcement is just over two weeks out. Have a healthy, safe and spirited holiday weekend! Sep 6: ISM Services Index Sep 7: International Trade Sep 7: Beige Book Sep 8: Jobless Claims Sep 8: Quarterly Services Sep 8: Consumer Credit Sep 9: Wholesale Inventories [Read Our Blog]( Option Trades for a Bullish Outlook Today we will explore a couple of option strategies for a bullish outlook. Before we get started, let’s take a look at a few examples of what may be considered a bullish outlook, either for the market or an individual underlying. Bullish The three most bullish opportunities in regard to technical analysis are a stock or the market breaking through resistance, a stock in an uptrend and a bullish reversal at support. [Continue Reading ...]( MTM Watchlist Here are a few trade ideas we may explore in group coaching class this coming week: QQQ – Will the market outlook remain weak? If it does, potential bear call spreads will be in order as resistance levels continue to hold for many stocks and ETFs. TSLA – This trade idea keeps doing well as resistance levels keep holding. More potential call spreads around the 200-day moving average and short iron condors will be examined. UBER – The stock has traded sideways the past couple of weeks, and if the market does not sell off potential bull put spreads will be looked at. [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