Sideways all afternoon then last minute finally some direction, theta ate all premiums today. Options volume of 35.4m contracts was 16% below recent average levels, with call’s leading puts 11 to 8 across stock, etf and index according to CBOE. SPY 3.16M PUTS 3.40M CALLS. Volume is low obviously so quick melt ups or down can happen fast be careful out there this market is getting everyone’s money right now. I was not expecting to come back from my birthday to this ridiculous price action. Not much happening tomorrow as far as data but we probably head up in anticipation of CPI on Wednesday looking for the 444 retest. Predefine what a loss is in every potential trade.
As always trade what’s in front of you good luck
As always trade what’s in front of you good luck