Benzinga Options Outlook for the Week of July 15: Did You Buy The Dip Last Week?
Markets have been super bullish pre- and post- FOMC minutes. As mentioned last week, the techs were the names to watch for all time high breakouts including Amazon (NASDAQ: AMZN), Priceline.com (NASDAQ: PCLN) and Google (NASDAQ: GOOG), while the rest of the financial complex lagged.
Bernanke surprised the markets with a jab of QE and said not to end til unemployment was at six percent. Investors should wait for some earnings to come out to throw some volatility in to dip; look to the 165 area on the SPY.
Be careful buying options ahead of earnings as they are artificially preened up from the volatility. Make sure to know the earnings schedule to see what's going to affect your options watch list.
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