Market Overview

Markets Dive, Fail To Bounce Into Weekend

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Markets Dive, Fail To Bounce Into Weekend

 


Broader Market Weekly Performance:


Dow -2.1%


S&P -2.4%


Nasdaq -2.6%


Russell -2.5%


 


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MARKET UPDATE:


The market roller coaster is back! See the video below for what happened this week and what it means going forward:



 


 


 


Here is a recap of October's performance for the BookingAlpha Trading Services:



 


Navigate wisely and stay profitable, my friends. Happy trading!


 


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BOOKINGALPHA UPDATE:


Monthly Trading Service Commentary:


This week we closed 2 trades to book profits: SPX calls for +15.28% gain and SPY calls for +9.09% gain. Both were the calls sides of Iron Condors, the put sides remain open.


 


All of our spreads are very well positioned as the market fights to hold its 200 Day Moving Average continues and premiums continue to decay (Theta). We still retain a very nice margin of safety for our put spreads and are comfortable holding them as we approach Nov OpEx.


 


We continue to improve our site functionality and have now listed Open Trades on the website. In a separate window, login to www.BookingAlpha.com and then click the link below to be taken to the Open Trades Page.


 


*You must be logged into BookingAlpha.com before for the link will work


 


 


Weekly Trading Service Commentary:


Our SPX Bull Put Credit Spread expired for +9.29% gain on Friday. We were in the trade for a total of 8 days.


 


We deployed a new Put Credit Spread during Thursday's trading on the S&P for this week's opex, Nov 16. The S&P continues to is fighting to hold the 200 Day Moving Average near 1380 which leaves our put spread in good shape. The spreads is placed well below Friday's close so we have nice margin of safety heading into opex.


 


Remember that this week's Weekly trade is using regular Nov options which stop trading at Thursday's close and use Friday's opening to determine their expiration value. We will be monitoring the trading action closely and if we feel there is a threat of loss holding the spread over Thursday night into Friday's open we will close the trade Thursday afternoon. Stay tuned....thanks!


 


We continue to improve our site functionality and have now listed Open Trades on the website. In a separate window, login to www.BookingAlpha.com and then click the link below to be taken to the Open Trades Page.


 


*You must be logged into BookingAlpha.com before for the link will work


 


Check out the BookingAlpha Trading Record


 


Check out my latest interviews at TraderInterviews.com & Benzinga:


 


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The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Markets Trading Ideas

 

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