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Daily Option Trading Commentary

I Am Short Term Bullish But My Bias Will Shift To Bearish In August [Here’s Why]

July 2
Posted 9:30 AM ET - This week the S&P 500 bounced off of the 200-day moving average and it closed above the downward sloping trend line yesterday. Buyers are engaged ahead of earnings season and the economic numbers have been good. The market should have a positive bias for the next month and selling out of the money bullish put spreads is the best strategy. Wednesday ADP reported that payrolls in the private sector rose 2.37 million during the month of June and that was in line with expectations. The big news came when May's loss of 2.76 million jobs…

 

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