Options Expiration week is for the fast daytraders. Very fast daytrader. That one who can't drink coffee because it will slow him down. It where you automate your computer with macros at $5k or 100 share flat trades and you hammer the Function keys like the machine locked up on you.
I can't stand daytrading but I love to watch. It's mezmerizing to see them work especially when the volatility in the market is high and emotions are riding on every trade, long and short. Options Expiration week is for the fast daytraders. Very fast daytrader. That one who can't drink coffee because it will slow him down. It where you automate your computer with macros at $5k or 100 share flat trades and you hammer the Function keys like the machine locked up on you.
I can't stand daytrading but I love to watch. It's mesmerizing to see them work especially when the volatility in the market is high and emotions are riding on every trade, long and short.
I don't have any intention of changing my position during Options Week. What looked like drifting in the morning had me consider an easy sell of UOPIX between 2-3PM would have peeled away 2% off the top for me and if it was a flip to USPIX it would have left me shorting the NDX at the bottom of a higher high higher low candle some 10% off the top where I should have shorted the NDX market. Holding a 2.69% gain on the position.
Tomorrow is free of economic data and Options Expiration so I expect continued volatility into tomorrows close as we shift over to Nov05 with a tremendous amount of Out-of-the-Money Puts to Calls on Nov05 and Dec05.
Money should start flowing in at the end of Oct if it has not already started. I’ll be a buyer on UOPIX under 21.55 with a stop out if it breaks under 20.50. I’ll consider a flip to USPIX or another fund.
With RRPIX (Rising Rates) looking like they temporarily topped out I’ll be looking for an entry there and also on RDPIX when it dips back down for the Ascending triangle. Treasuries Outstanding is sitting under 20b right now. It can’t sit there too long so we may get some injections if short rates behave and allow the Fed to inject some liquidity.
I don't have any intention of changing my position during Options Week. What looked like drifting in the morning had me consider an easy sell of UOPIX between 2-3PM would have peeled away 2% off the top for me and if it was a flip to USPIX it would have left me shorting the NDX at the bottom of a higher high higher low candle some 10% off the top where I should have shorted the NDX market. Holding a 2.69% gain on the position.
Tomorrow is free of economic data and Options Expiration so I expect continued volatility into tomorrows close as we shift over to Nov05 with a tremendous amount of Out-of-the-Money Puts to Calls on Nov05 and Dec05.
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