MTM Options Trader Newsletter - Bear Call Trades on SPY

[image]() [image] This Week in the Market The S&P 500 traded in a fairly tight range until a bullish close on Friday lifted stocks and the index to a positive close for the week. A much stronger than expected September jobs report put traders and investors in a buying mood. The S&P 500 was able to stay above its 200-day moving average, especially with a bullish close on Friday. It should be an interesting week to see if buyers are still present or a non-bullish bias takes over as has been the case for the past several weeks. Implied volatility and option prices dropped dramatically to end the week but are still well above September levels. The notes from the last Federal Reserve meeting will be released on Wednesday afternoon. Despite an onslaught of Fed speakers over the past few weeks, something not previously discussed could be released. Volatility is a guarantee. In addition, the latest CPI and PPI numbers are expected. The bond market is closed on Monday due to the Columbus Day holiday. The next round of quarterly earnings kicks off this week with several financial institutions expected to announce this week and next. Have a healthy, safe and pleasant week! Oct 10: Wholesale Inventories Oct 11: PPI Oct 11: Fed Minutes Oct 12: Jobless Claims Oct 12: CPI Oct 13: Import Price Index Oct 13: Consumer Sentiment [Read Our Blog]( Bear Call Trades on SPY I have this saying when it comes to technical analysis that goes like this: “What has a better chance of happening”? What I mean is, based on support and/or resistance, what does the underlying have a better chance of doing? Now let’s be clear, there is not always a definitive answer to that question. But many times there is, and an option trader can take advantage of those odds. Let’s start with support and resistance. Support and Resistance I often say that support and resistance [Continue Reading …](=) MTM Watchlist Here are a few trade ideas we will most likely look at in group coaching class this week: SPY – Iron condors and vertical credits remain profitable trades, and we will keep doing them this week. META – We have done well with iron condors over the past several weeks. With the move higher on Friday, bull put spreads and bull call spreads will be examined this week. AMZN – With the stock slopping and chopping around, an iron condor looks like a strong possibility this week based on some solid potential support and resistance levels. [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