MTM Options Trader Newsletter - Patience and Options are at a Premium

[image]() [image] This Week in the Market Stocks and the market took a breather early in the week but were able to hold their own for the most part. The S&P 500, Dow and Nasdaq continued to trade above their 50-day moving averages with a big rally on Friday. Sellers have not taken over yet, despite the market being a tad extended. Going forward, a non-bearish outlook continues to make sense unless the 50-day is compromised. Implied volatility levels keep falling but are still above what we saw in September and the summer. If the market continues to hold its own or move higher as it did on Friday, most likely we’ll see those levels again soon. Several Federal Reserve speakers are expected to talk, although it’s unclear how much is left to be said after the barrage of talks last week. Some economic reports dealing with inflation are also on tap, including the latest CPI and PPI figures. Quarterly earnings continue to slow especially for big-name stocks, but a few are still waiting to report. Have a safe and healthy week as we approach the holidays! Nov 13: Federal Budget Nov 14: Consumer Price Index Nov 15: Producer price Index Nov 15: Retail Sales Nov 15: Business Inventories Nov 16: Jobless Claims Nov 16: Import Price Index Nov 16: Industrial Production Nov 17: Housing Starts [Read Our Blog](=) Patience and Options are at a Premium Stocks and the market took a bit of a beating over the past several weeks, but they recently moved higher again. Talk about volatility! Of course, that is to be expected from time to time and is really nothing out of the ordinary if you have traded for any length of time. Even though the markets may be uncertain, there is something you should always be certain about and that is the importance of patience. Having patience as a human being and an option trader will almost always benefit you. Being Too Aggressive Being patient and avoiding spur-of-the- [Continue Reading …](=) MTM Watchlist Here are several trade ideas we will most likely consider in group coaching class this week: SPY – We were successful with bull puts early and bear calls late in the week, and there will be new opportunities to exploit those vertical credits again. TSLA – A put calendar worked well last week, so we will be looking for another neutral calendar. MU – After busting through a couple of levels of resistance, this stock looks like it is ready to run higher. Possible long calls and bull call spreads will be examined. [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