Chop-Chop Goes The Market

We utilized the sideways chop today to open a new Iron Condor Spread for the Weekly Trading Service. There were some large volumes in weekly S&P 500 Index (SPX) options today so we jumped on to scalp some of the premium available.

The Monthly Trading Servicehas one position open (a RUT Bear Call Credit Spread) which is looking very nice with the current status of the RUT. We have some additional plays on the radar for the Monthly Trading Portfolio but are being judicious with our entry's.

Other than that, it was a pretty quiet today. The market took the soft ADP numbers in stride and the market basically closed flat on the day. The next 2 days will include the release of more job data including Jobless Claims Thursday am and Non-Farm Payroll & Unemployment Rate on Friday am. Today's weak ADP pretty much setup a soft report on Friday. The market continues in a range of S&P 1415-1390. A wider range also exists from S&P 1420-1370.

Thanks to everyone and have a great day!

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