MTM Options Trader Newsletter - Make Some Option Moves at the Close

[image]() [image] This Week in the Market The week seemed off to a promising start when the market gapped higher, but that was quickly erased with stocks moving lower and becoming quite volatile. Looking ahead to this week, expect that volatility trend to continue as it has for the past several months. Major support and resistance levels are still holding for the most part during market hours, but frequent gaps at the open have made it a little more difficult from a technical perspective to get a handle on the market. With the current downtrend, a non-bullish (expecting resistance levels to hold) outlook seems warranted. It is a pretty heavy week as far as economic reports go, so implied volatility levels should be a tad elevated as a result. There are a couple of trade numbers set for release, and the February jobs report is scheduled for before the open Friday. Quarterly earnings continue to wane, but a fairly steady flow of retailers are still releasing their latest numbers. Be extra vigilant about knowing when volatility events could affect your position, and have a happy, healthy and especially prosperous week! Mar 6: Factory Orders Mar 7: Wholesale Trade Mar 7: Consumer Credit Mar 8: Trade Balance Mar 8: JOLTS Mar 8: Beige Book Mar 9: Jobless Claims Mar 10: Unemployment [Read Our Blog](=) Make Some Option Moves at the Close This market has been a volatile beast with almost every day filled with decent to large moves. Let’s be honest: It is hard for a swing trader to get an advantage with those moves. Obviously, when the market closes, there is never a guarantee it will open higher or lower the next session. If we knew that, trading would be a whole lot easier and we probably wouldn’t be having this chat. But there is a method I use on a constant basis that I have found helps me tremendously. It is to monitor how the stock closes on the day. Bullish Close This is even more essential if I am looking for a bullish or bearish directional trade. For [Continue Reading ...](=) MTM Watchlist Here are a few trade ideas we will look at in group coaching class this week: SPY – The index ETFs have been great trade candidates, so why would we give that up? More vertical credits and long double calendars will be explored, especially close to the end of the week with the jobs report. AAPL – The stock has been very good to us in class, and we look for that to continue. More bear call and long calendars will be modeled out. COST – It has been a very volatile stock but has also generated some nice premiums. More short iron condors and vertical credits around support and resistance levels are a given. [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 - 2023. 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