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Daily Option Trading Commentary

Buy Puts If the Market Makes A New Low After 2 Hours Of Trading

May 3
Posted 9:40 AM ET - Monday the SPY started the week on a positive note and stocks floated higher all day. Many global markets were closed and the volume was light. This morning, those gains are being stripped away. Stocks are fully priced and the market momentum has stalled. Mega cap tech stocks disappointed investors and bears will be a little more aggressive. We are also likely to see some profit-taking. Global credit concerns are always looming and there are some nagging issues (Brexit and GOP convention) that stand before us. Basic material stocks and industrials have led the charge.…
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