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Daily Option Trading Commentary

Bullish Bias For the Next Week. SPY Should Be Able To Reach $217

October 27
Posted 9:30 AM ET - Yesterday the market fell back below the 100-day moving average and the price action all day was fairly weak. We are getting a nice bounce this morning and buyers should stay engaged ahead of Amazon and Google earnings after the close. Beats have exceeded misses by a wide margin and I'm still expecting a small rally into the middle of the range (SPY $217). Up opens are a little more difficult to trade since I've been favoring the long side. All ships rise with the tide and it is more difficult to separate the fakes…
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