Markets Posted at: April 2nd - 10:00 AM Weekly Option Alert Alert Message The three major indexes DOW, SPY, and IYT are close to what technicians say constitutes a buy signal based on DOW theory. That is when the DOW and the IYT (transports) break out to a new high they confirm the signal. The DOW had 44 points to go as of this morning. We have a huge unemployment number coming out before the market open on Friday. We will not be able to catch the major market move if we wait till then. I believe the markets will chop around today and hold firm and may continue into a period of tomorrow. Option Market makers will be stripping premium as they wait. My suggestion is we wait till later in the day to get involved and pick a direction for a high stakes gamble play that can pay off big if the direction is correct. So unless there is just something glaring out there, I suggest holding our fire till tomorrow afternoon. Limits & Stops SELF DIRECTED TRADERS: Weekly Option alerts should be traded with 50% stop loss targeting 20% - 50% returns. Additional Trades View all recent trades. Weekly Options Instructions 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. Read Weekly Options Guidelines for more information about how to trade our Weekly Options strategy.