[image](=) [image] This Week in the Market The major indexes moved higher as market volatility and indecisiveness turned the week bullish, with Nasdaq closing at a level not seen since the end of August. Based on the recent break higher, a bullish to non-bearish market outlook seems to make sense. Implied volatility and option prices continue to sink making it harder to sell generous premium. The VIX (CBOE Volatility Index) has declined to levels where it traded from the beginning of February to mid-March. It will be a short week of trading for investors and traders as the market is closed on Friday in honor of Good Friday. Because of the short week, IV levels may be low and favorable IV skews for longtime spreads more difficult to find. There are several economic reports worth noting this week, including the latest jobs report before Thursdayâs open. In addition, several Fed speakers are scheduled to talk including two on Monday. Enjoy the holidays, and have a safe, happy and healthy week! Apr 3: Construction Spending
Apr 4: Factory Orders
Apr 4: JOLTS
Apr 5: U.S. Trade Balance
Apr 6: Jobless Claims
Apr 7: Unemployment
Apr 7: Consumer Credit [Read Our Blog](=) No IV Skew? Try an Iron Condor I love to find opportunities where I can buy calendar spreads for a neutral bias. In fact, we have feasted on them in MTMâs Group Coaching class for a long, long time now. The most important part about a calendar, whether it be neutral or directional, is that the underlying is trading as close to the short expiration as possible. There is no debating that point, but an option trader can get an edge from a proper implied volatility (IV) skew. What if there is no IV skew? A short iron condor may be a good choice in that case. Letâs take a look. IV Skew Edge An IV skew edge for a long calendar is when [Continue Reading ...](=) MTM Watchlist Here are a few trade ideas we will consider in group coaching class this coming week: SPY â With low IV levels and lack of IV skews because of the short week of trading, bull call spreads, which did well for us last week, will be given another look. UBER â The stock has been trading in a nice downtrend channel since mid-February. It closed at the top part of the channel, which is potential resistance. Long puts will be explored this week. AAPL â The $160 level that acted as resistance is now potential support after the stock rallied through that level. A possible switch to bull calls from last weekâs bull puts could be on the table. [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