The market has been non-commital lately. We do remain in an overall bull market, but the market has been difficulty making new highs and maintaining its gains.
These are difficult markets to trade. The low implied volatility makes it difficult to trade credit spreads. It's not a bad time to stay on the sidelines, which is exactly what we have done with our SPX trading, by virtue of our trading rules.
Our CROX trade is now demanding some of our attention. I looked at it over the weekend. My sense is that the shorts are trying to pressure to stock.
Today it opened below its 20-day moving average and is current down about .65 - .70. The 50-day moving average is below the level of our short strike, but not tremendously. We still have a small profit in the trade. CROX's primary trend is still up, so we are in a "wait and see" mode.
Tomorrow evening we have a complimentary tele-seminar scheduled. Visitors to this blog are welcomed. Additional information was posted yesterday on this blog and you can register here:
http://www.theoptionclub.com/support/ianieri-seminar.html
I am registered for the presentation and hope you can find the time to join us.
Good trading!
Christopher Smith
TheOptionClub.com
Discover the stock options strategies favored by professional traders in our FREE options trading mini-course!
Subscribe To
Posts
Comments
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment