Morning Dave,
The last dip certainly accelerated the Puts Eh? I would also anticipate that it could possibly lead to a big surge coming up here. I think that if the Memorial weekend is quiet then we might get a pretty big day on Monday, maybe. Still working on the 8550-8625 range today but a breakout on Monday is not out of the question and could lead to a retest of the recent highs, maybe. I think that right now it all depends on how the weekend turns out and if the terrorist threat level is lowered next week. Continuing to find resistance at the longer term 10SMA could be the precursor to further down though as happened the end of last May. Still a long way from a negative SMA crossing but the possibility is there in the future if we continue to find resistance and eventually lose support. 4 weeks to expiration and I am tempted to look at mostly straddle type trades as a lot could happen in that timeframe with the markets, JMHO though :^)
The last dip certainly accelerated the Puts Eh? I would also anticipate that it could possibly lead to a big surge coming up here. I think that if the Memorial weekend is quiet then we might get a pretty big day on Monday, maybe. Still working on the 8550-8625 range today but a breakout on Monday is not out of the question and could lead to a retest of the recent highs, maybe. I think that right now it all depends on how the weekend turns out and if the terrorist threat level is lowered next week. Continuing to find resistance at the longer term 10SMA could be the precursor to further down though as happened the end of last May. Still a long way from a negative SMA crossing but the possibility is there in the future if we continue to find resistance and eventually lose support. 4 weeks to expiration and I am tempted to look at mostly straddle type trades as a lot could happen in that timeframe with the markets, JMHO though :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
