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Daily Option Trading Commentary

Low Probability Trading Environment - Take Time Off If You Are Leaking Oil

August 23
Posted 9:30 AM ET - Flash PMI's were decent and the market has a small bid pre-open. Trading ranges are tight and volume is low. We can expect this to continue through Labor Day. Today I will let the early move exhaust itself. All ships rise with the tide and some stocks will rally because the market is up. As soon as the market stalls they will retreat. Identifying relative strength will be tough in the early going this morning. I will sit out the first hour and I will watch for strength. The best candidates will surface. I will…
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