Option Millionaires

[Nolerman]

"Nervous about jobs number"

I think the market tanks tomorrow regardless. The algos simply need a headline catalyst to get it moving faster, but I think the correction needs to complete. Right now I believe this is a brief relief rally on an intermediate down trend, which is all leading to one last rocket to new highs. I'm expecting SPY 230-240 before all is said and done.


As far as that SPY straddle.....I would take a look at the same play on AAPL. I have used a Strangle many many times (Purchase in the last 15 minutes of trading, exactly one strike in either direction) and it almost always pays. AAPL simply likes to cross multiple strikes. Also, a straddle at 3:00pm on any given Friday would make sense as well.....probably pay a larger % gain. Anyway, good luck Truman