i am selling strangles. i want the SPX not to move much, or at least come back to the current level by Aug Expr
"FV" stayed steady at 1372 yesteday, even into the late afternoon selloff. Nothing to do, but expecting higher markets today.
I am telling you, these guys in Washington are reacting like a chicken running around with their head cut off. I have no idea from day-to-day what it is their policy is, and sometimes if feels like they are literally saying the opposite thing on two consecutive days!!!! Annoying as hell. There must be immense duress in the Whitehouse/Government. Those guys would benefit from a round of golf relaxing, and talking this stuff over poolside while eating hamburgers and hot dogs. No one can think straight under the circumstances that we find ourselves in, and what will happen is that we will just blurt out an answer, any answer just to be left alone. Campaigning in war is easier than this. At least there the enemy is clear and the goal is obvious.
"FV" holding steady in the 1360 to 1370 area. Nothing to do. A cross above 1320 would be interesting and a place to go long again. 1300 ish another area of interest. It could be a slow day with options expiration...
Cosumer Sentiment coming in where it does, one begins to wonder if we as a people are beginning to feel anxiety over our prospects for prolonged employment and the general health and psychology of the US. This feels like a recession is looming again. Call it a double dip or a freshly minted one - who cares? I can't act on these instincts since they don't show up in FV. On the other hand, FV has been taken to the wood shed recently, so one wonders if the market itself is signaling some sort of slowdown...