Quad Witching Friday – Options Expire Amid 4 Fed Speeches

As I told you on Wednedsday morning, we were getting way too overbought to keep going much higher.  This stuff isn't complicated folks, it's just physics.  When the Market did pop after the Fed at 2:30 on Wednesday, I said to our Members in Chat:

Gotta love IWM at $107 (RUT 1,070) for a short.  Actually, TZA is more fun with the Oct $22/25 bull call spread at 0.96 so 20 of them in the STP to start and happy to DD if they get cheaper.  

FAS/STP – Let's sell 5 Oct $80 calls for $1.55 ($775) and we'll buy more longs if they hold $75 into Friday (also riding out the short $70 call, now $7).