Morning Update: September 22, 2014

1-855-RWT-0008

Prepared by the good people at Random Walk, LLC. (and Scott)

Great Morning

Closing Prices From Yesterday

Today’s Number(s)

Yesterday and Today

Yesterday

The day went off perfect (for the bulls). Alibaba opened and immediately hit $99 before pulling back a little. The Dow hit another new high 17.350.64. Keep in mind that this is the area I felt the market would pull back from when I was bullish from Dow 14,800 a little over a year ago. Anyone remember?

Well we got to about that number and pulled back as the E-minis went from up $10 to down -$4.25. What was interesting is that the market climbed for weeks as the TLT fell $7, but Friday the TLT began to run higher, then the Dow sold off.

TODAY

DOWN!!!!

POT Wednesday:

I am counting the votes from last week’s class on the topic. Recall that the requests were divided between:

• Ratio spreads

• Gamma scalping

• Scott lighting it up

POT is held each Wednesday night at 7:00pm eastern.

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

The new greeks are as follows:

Recall that we closed the SPX Iron Butterfly (short) for a $7 profit on 10 contracts. Not a great trade, but not a bad one. I want to see volatility move, and then I will do another trade example. I want to do a variety of different trades to augment the class, but having on too many at once will clutter up the learning curve.

BUT I WANT A VOTE FROM YOU;

This is your class, so I will do what you want. Please send your vote in to admin@randomwalktrading.com with the MEMO saying “Italy Vote”. You want to see which of the following next:

1 – Continuous premium selling with more sales on top of sales, making portfolio management necessary.

2 – A new type of remedial strategy that has a negative volatility component to it?

3 – Two different strategies in two different names (to be able to track individual PNL better?

4 – YOU PICK (write in what you want).

Too True To Be Funny

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Attorney Stuff

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Trading is almost as much fun as black jack in Vegas, but without all the annoying distractions of free drinks, Broadway shows, gorgeous people with low morals, and free buffets. It also has about the same odds of success, so when you lose all your money you wont have to walk past a smiling pit boss. Even Bruce Wayne lost everything with options in The Dark Knight Rises, and Superman keeps his day job at the Daily Planet newspaper.

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