Weekly Options Outlook for the Week of May 6

pushed into new highs after trapping bears from the 158 mark.

continued higher, paying out every long call for five strikes out. Majority of gains have been in a melt up fashion, making it relatively hard to go straight long calls to make money across the board. Put writers were paid out handsomely given the inability to dip as well. Market push has mostly been provided via the tech sector, which most likely will fade this week. Key points are to stay on top of how the financials react, will they provide the bid for the markets, or fade with the techs as well. Stay on the scalp sides with calls and puts, and wait for some broad market indication of any solid directional move. Expect choppiness and premiums to get burned throughout the week.