Option Trading News letter: May 28, 2015

Thursday

May 28, 2015

1-855-RWT-0008

1-855-RWT-0008

Prepared by the good people at Random Walk, LLC.

Awesome POT Class Last Night

Closing Prices From Yesterday

Today’s Number(s)

Yesterday and Today

Yesterday

The market opened up modestly an sat for a while until rumors of an imminent deal with Greece and the EC started to circulate. Shortly after the rumors circulated the EC refuted the rumors saying that no deal was close, but by then all the bottom fishers were buying. We did hit the key 18000 Dow and 2100 SPX levels on Tuesday, and the rumors of a Greece deal was enough for people to realize they were buying at support levels.

TODAY

One would think that after having bounced so nicely off of support levels on Tuesday and the Nasdaq making new highs that we should drift higher. We are sill 200 Dow points away from the highs and 12 points from the SPX highs.

The key to today’s markets is going to be the usual suspects:

• Will Greece ever get their head out of their $#^? Even the media is not saying people should let Greece fail, that is how old this is getting. Remember oil falling was supposedly bad until 4 months later? Then the dollar rising was bad, or at least for 3 months. Now the same thing is happening with Greece.

• The Eur/USD relationship and bonds. Binds and the TLT were down a point for a while and closed up on the day yesterday. That helped our markets.

• Two big numbers. Jobless claims and Housing.

How great is the new platform – Go-to-Webinar?

We have been using it for a month now and have not had a single problem. We have no had sound quality issues, disconnects, and staggering feed on animations. I love this new platform.

Topics Covered:

• Explained how I legged out of four positions that comprised the Risk Reversal that was hedged with an opposite risk reversal – in other words, two unbalanced condors.

• I let it (accident) slip that one of the other topics in MAUI ’16 was lopsided risk reversal trades that can be used as a “gamma scalping” type of trade.

• We entered into a long E-mini call spread. We are only long 48 deltas prior to the call spread purchase, so we piked up a few more deltas.

• We covered the small remaining positions that are expiration concerns. The only real trade that needs to be watched is the SPX call butterfly we legged into (yesterday and today) for a $0.05 credit.

• Why the account is at an all time high in profits this year – mostly the AAPL an SPX butterflies from last week.

Contract the office at 1- 855 – RWT – 0008 for more details

Too True To Be Funny

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Attorney Stuff

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