Benzinga Options Outlook for the Week of September 30: Be Wary of Long Positions
Eyes are on economic news in regards to a possible government shutdown due to the lack of decision on Obamacare. Given the current state of the S&P 500 (NYSE: SPY) holding under 169, traders should be very careful of support becoming resistance.
VIX levels are at a an interesting high in front of the news. The financials such as Goldman Sachs (NYSE: GS) and Citigroup (NYSE: C) were showing significant weakness on Friday while high flyers were aiming higher.
As futures trade down significantly, it begs the question: are institutions putting on new positions or not?
This should help with your outlook. Again, there is demand for volatility from this government shutdown is apparent leading into earnings season.
Trading opportunities still exist.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.