MTM Options Trader Newsletter | Equity Options for Sideways Action

[image]() [image] This Week in the Market The market was able to move higher early in the week but had trouble maintaining that momentum, with the Dow seeing the biggest gain. Stocks had been on quite the bullish run and a pullback may have been needed. It will be interesting to see if this small pullback is met with eager buyers as has been the case over the past several months. The three major indexes are all still trading above their 50-day and 200-day moving averages. With that being the case, a non-bearish outlook on the market continues to make sense. Implied volatility and option prices ticked up a fraction. After missing a trading session last week, traders and investors have a full week ahead of them. Several economic reports are expected, including a couple of housing and consumer reports as well as the latest GDP update. It’s hard to believe half the trading year will be in the books at the end of the week, and it has been a bullish six months for sure. Quarterly earnings are slow but will accelerate in a few weeks. Have a safe, healthy and prosperous week! Jun 25: Consumer Confidence Jun 26: New Home Sales Jun 27: Jobless Claims Jun 27: GDP Jun 27: Durable Goods Jun 27: Pending Home Sales Jun 28: Personal Income and Spending Jun 28: Consumer Sentiment [Read Our Blog]( Equity Options for Sideways Action The market has been doing a lot of up and down action over the past few weeks, not really going much higher or lower overall. Many stocks are doing the same thing. Certainly, this is better than stocks moving lower, but it still can be frustrating. If you own shares and know about options, there is a solution to that problem: a covered call. Covered Call As a knowledgeable option trader or investor, using a covered call when the stock is trading sideways may make perfect sense. A covered call is owning stock and selling a call option that is usually out-of-the-money (OTM). [Continue Reading …](=) MTM Watchlist Here are a few trade ideas we will most likely look at in MTM’s group coaching class this week: SPY – 0-DTE trade ideas have worked well, especially iron condors, and will stay on the docket. Bullish vertical debit and credit spreads will also be examined. NVDA – This stock remains on most traders’ watch list for a reason. With the late-week pullback, potential bull call and bull put spreads will be front and center. TSLA – With the stock continuing to trade sideways, we keep constructing successfulshort iron condors. More will be considered this week. [image]( The strategies in this newsletter are for educational and informative purposes only. All information disclosed in this newsletter should not be considered complete in its entirety. Market Taker Mentoring, Inc. will not be held responsible for changes, oversights, errors or omissions. Dates, prices, news and other information may not be accurate. Please verify all information before trading. You alone are responsible for your own investment decisions. Options involve risk and are not suitable for all investors. Before trading options, please read Characteristics and Risks of Standardized Option (ODD), which can be obtained from your broker; by emailing investorservices@theocc .com; or from The Options Clearing Corp., 125 S. Franklin St., Suite 1200, Chicago, IL 60606. No statement in this newsletter is intended to be a recommendation or solicitation to buy or sell any security or to provide investment or trading advice. Traders and investors considering options should consult a professional tax advisor as to how taxes may affect the outcome of contemplated options transactions. Copyright Market Taker Mentoring, Inc. 2008 - 2024. All rights reserved. Reproducing or redistributing this content is a violation of federal law. [image] If you do not wish to be contacted via email, you can unsubscribe using this link: [Unsubscribe]( Unsubscribing from email notifications DOES NOT cancel your class, subscription or recurring payments. We recommend that current students do not unsubscribe from email notifications. If you unsubscribe from email notifications, you will not be notified on how to access the classes or subscriptions in which you are enrolled. Market Taker Mentoring, Inc. PO Box 117 Frankfort, Illinois 60423 United States