MTM Options Trader Newsletter | Option Trades Near the Close

[image](=) [image] This Week in the Market It was less volatile than last week as stocks were able to move mostly higher, with Nasdaq lagging behind the S&P 500 and the Dow. Fed Chair Jerome Powell did not exactly come out and say the Fed will cut rates in September, but he did imply it by saying “the time has come for policy to adjust.” The market responded by moving higher on Friday. All three major indexes are trading above their 50-day and 200-day moving averages. A bullish to non-bearish market outlook seems to make sense based on stocks holding their own or moving higher over the past week. Implied volatility and option prices continue to move lower. This week is filled with more economic reports than last week. Included in the group is the latest update to the GDP and a couple of consumer numbers. There are also a few Fed speakers scheduled to talk this week. One of the biggest events will be the latest quarterly earnings announcement from NVIDIA scheduled for Wednesday after the close. There has been a high volume of option activity associated with the release. Have a safe, healthy and prosperous week! Aug 26: Durable Goods Aug 27: Consumer Confidence Aug 29: Jobless Claims Aug 29: U.S. Trade Balance Aug 29: GDP Aug 29: Pending Home Sales Aug 30: Personal Income and Spending Aug 30: Consumer Sentiment [Read Our Blog]( Option Trades Near the Close There’s no denying that this market is extremely volatile. It’s a difficult environment for swing traders and may be more suited to day traders. There is never a guarantee when the market closes that it will open higher or lower the next session, even if it’s a bullish or bearish close. We can, however, observe how the market closes to put the odds on our side, especially if we’re looking for a directional opportunity. A Bullish Close I like to enter a bullish trade closer to the end [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 iron condors continue to do well, so we will search for more this week. Calendars and double calendars have also been profitable, so why stop now? GOOGL – The stock has been stuck in a bit of a rut, so more neutral trades like iron condors and calendars will be modeled out. AAPL – Bear call spreads and calendars were successful this past week, so more including bull put spreads will be considered. [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