Friday, September 16, 2016

Sept 16 - Opex churn

I would be a lot more bullish if not for next week's poor seasonality but I did pick up a couple positions today.

WFC Oct 7 43 calls @2.9
VXX Oct 7 44 puts @ 6.1

We might get some more downside in the indexes next week but I believe it will be limited due to the lower volume churn at this level.

No comments:

Jan 20 - Equities caution signal, short SPY, NFLX

Call buying has come back and very good chance of a pullback here