MTM Options Trader Newsletter - An Options Trading Routine Is Smart

[image](=) [image] This Week in the Market It was another bruising week for stocks as market participants clearly did not appreciate the Federal Reserve raising interest rates 75 basis points. The S&P 500 dropped to levels not seen since June, with stocks falling sharply Wednesday afternoon through the close on Friday. All the major indexes are well below their 50-day and 200-day moving averages with implied volatility levels as well as option prices spiking much higher. As you might imagine, a bearish to non-bullish bias should be respected unless somehow this market finds some bullish traction. It will be interesting to see where the market goes from here. Even though conditions may look oversold, there is still plenty of room for the market to drop more. Several economic reports are due out this week, including a couple of housing numbers and a consumer confidence report. Quarterly earnings remain slow, which may be a blessing for the market right now. Better to be out of the market wishing you were in than in the market wishing you were out. Have a healthy, safe and lovely week! Sep 27: Durable Goods Sep 27: Consumer Confidence Sep 27: New Home Sales Sep 28: Trade in Goods Sep 28: Pending Home Sales Sep 29: Jobless Claims Sep 29: GDP Sep 30: Consumer Spending Sep 30: Chicago PMI [Read Our Blog]( An Options Trading Routine Is Smart I often harp on traders to have a written trading routine. Without one, in my opinion, they won’t have much chance of being successful in the long run. One of the many reasons to consider a trading plan is to formulate a routine for yourself. Following a routine you are comfortable and successful with is imperative to your potential success. Routines Make Sense As humans, many things we do are routine are generally easy. We don’t even think about most of them. I am by no means saying you don’t need to ... [Continue Reading ...]( MTM Watchlist Here are a few trade ideas that we will be considering in group coaching class this week: SPY – With the market looking weak and not showing any signs of a rally, more bear put spreads for an expected continued move lower will be looked at. GOOGL – The stock dopped below the $100 level, which now becomes potential resistance. Bear call spreads at that level will be modeled out. TSLA – With the market getting clobbered last week, stocks including TSLA dropped considerably. If that trend continues, any stock will have trouble staying afloat. With a potential support level at $250, bull put spreads may be explored. [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