Posted at: November 13th - 2:53 PM

Monthly Option Alert

Alert Message

Markets are in correction territory setting us up for a bounce into black Friday. Trader’s Almanac rates Monday down 9 of the past 15 years. A timing model newsletter I follow is calling for a Market low around Tuesday, which is perfect. There is also a market level of 2020 on the SPX that corresponds with a 38.2% Fibonacci level, all these factors lead me to be cautious but not too concerned. Monday may be tough so I will update the Commentary before the market opens and we will most likely get in the market in the first few minutes of the trading session. There will likely be many negative news stories this weekend causing many to dump their holding giving us a better entry. No trades today.

 


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All options are buy to open, sell to close. Options follow the following format: Stock + Expiration Date + Option Type + Strike Price. Example QQQ201220C120 = QQQ 2020/12/20 Call $120.

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