Very choppy still with no real trend. That’s the hardest environment to trade in and our goal is to do our best to be patient until we get better opportunities. Breadth: Pretty much all of these went right to the area where they have been failing all year and thus far have once again backed...
Last week was the perfect example of why patience is an important aspect of being a successful trader. It’s definitely not easy, but looking back at last week the most successful part of the week in my opinion was not trading every time something “looked good” or because of boredom. The environment wasn’t amicable to...
Fantastic week. Next week is monthly options expiration so the open interest will have less impact as it does on weeklies. However, OPEX week can also produce big moves, not to mention earnings are now underway. Breadth: Most of the breadth measures I typically track here have improved from last week, but are not in...
Good week overall. It was short and sweet. Holiday weeks can be fun with options when there is low volume and big moves. SPX has finally moved back above 2750 and as long as it holds 2800 should be in the cards in the next couple of weeks. Breadth: All the typical measures I post...
Talk about chop and a very challenging week to trade options. From Monday morning through the rest of the week the option premium was elevated due to the VIX. Thus, even if you had a great trade opportunity, it often wasn’t worth the premium. Next week is a holiday week so 1) it is likely...
SPY Mon, Wed, Friday Open Interest for Week 7/30/18
Last week here I outlined the three open interest charts for SPY which pinned fairly well for the most part (as you can see at the bottom of this post). Wednesday didn’t pin, but after the 283 calls closed (I showed that via twitter Wednesday morning), the resistance became much less powerful allowing price to […]
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