CME_MINI:ES1!   S&P 500 E-mini Futures
I have couple of small trades, EWW calls, BLDP straddle and CADE earnings puts, but other than that, I'm all cash for the weekend.

Not really sure how the holiday will pan out since the other markets will be open. I expect a big gap in EWW one direction or the other, hopefully up, lol.

Tough to trade when the market melts up along the upper trendline because you have no idea when it will drop , risky trade with options, so just a few small plays. No idea which way the gap goes Tuesday, will update this sometime Tuesday.

Also, see my SPX chart, we're almost at the top of the channel, but that does not mean we'll tank, the market could melt along the upper trendline .
Jan 17
Comment: The big issue for me here is that we're melting up along the trendline, so there's no easy trade. The big money like last week is made when the indicators are easy to read.

When it melts along the trendline, you can either follow the pump and hope it continues or short it and hope it breaks. Either way it's trading on hope.... which is not good.
Jan 17
Comment: I usually don;t do index options, but since I;ve been guessing gaps correctly lately, I figured I'd take a look. Calls are actually cheap right now and puts have a higher premium! Can't remember the last time I've seen that.... but the market is predicting a drop already.
Jan 18
Comment: I expect a gap up and drop on Monday then up the rest of the week. I think this plays out very similar to Jan 2018. Go look at the SPX daily chart for Jan 2018...

Not rolling into puts until the Fed meeting, and I usually don;t short indices, but it might be tempting to do so that afternoon.

Comments

your observation makes sense , thanks
Reply
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