MTM Options Trader Newsletter - Put in Those Profit Taking Orders

[image](=) [image] This Week in the Market Nasdaq struggled this past week, but the Dow and S&P 500 were able to post more solid gains. Shares of TSLA and NFLX tumbled on Thursday, taking many Nasdaq stocks down with them. For the most part, stocks keep grinding higher, and implied volatility levels remain low. A pullback is due, but a non-bearish bias needs to be respected until proven otherwise. All the major indexes continue to trade well above their 50-day and 200-day moving averages. It is an extremely busy week for economic reports, especially toward the latter part. The latest Federal Reserve decision is expected on Wednesday with the current consensus being that members will raise rates 25 basis points. Included in the mix are a couple of consumer numbers and the latest GDP update. In addition, several big-name stocks are expected to announce their quarterly numbers this week. Have a safe, healthy and most prosperous week! Jul 25: Consumer Confidence Jul 26: FOMC Jul 27: Jobless Claims Jul 27: Durable Goods Jul 27: GDP Jul 27: Trade Balance Jul 27: Pending Home Sales Jul 28: Personal Income and Spending Jul 28: Consumer Sentiment [Read Our Blog](=) Put in Those Profit Taking Orders Here is a quick post to follow up on the recent one I did on several things you can do that can 100% improve your trading. Another simple thing you can do is to put profit-taking orders out there as soon as you enter a trade. Better Chance of Getting Filled Think of it this way: If an order is already in the system, you have a better chance for it to be filled. It is as simple as that. So many times you will notice a stock that gaps and reverses direction right after the open. If you are waiting with no order out there, you clearly have no chance of getting filled. But as I tell my students, if it is out there, you have a chance. [Continue Reading ...](=) MTM Watchlist Here are a few trade ideas we will most likely look at in group coaching class this coming week: SPY – With the FOMC announcement expected on Wednesday, IV skews will be available. Double calendars will be back in style this week. AAPL – The company is not slated to announce earnings for another week. If the market holds its own, more bull call and bull put spreads will be considered. TSLA – After getting hammered because of earnings this past week, the stock may be ready to rally. Bull put spreads just below potential support levels will 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 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