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Daily Option Trading Commentary

Look For These Early Patterns Today and Trade Accordingly

October 19
Posted 9:30 AM ET - Earnings season will kick into high gear in the next week and traders will be focusing on guidance. Year-over-year comps will be harder to beat since we were starting to come out of the depths of Covid-19 and stock valuations have not been this high since the “tech bubble” of 2000. The enthusiasm for earnings is high and the S&P 500 did not even test the 50-day MA Monday. In fact, the gap down only lasted a bar and we were off to the races with a gap reversal. This price action was very strong…

 

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