I am gonna try and close my 1165/1175 puts for JAN and roll them higher towards 1205 or so for more premium. I am still very wary about touching any calls these first two months based on the charts I have posted here which show a continuation of the bull rally since OCT. Be careful about adding call spreads unless you are DEEP DEEP OTM.
So, Coach. This looks like an opportunity to sell additional bull puts. The 1210/1200 has a mid at $0.55 as I type this. Do you think this is just low volume computer sell programs or is something more serious going on.
I think it is a negative reaction to the yield curve news (inverting) but it is still on low volume and as my attached chart below shows we still have bullish support. Certainly a good day to grab some last bull put spreads for JAN before premium really begins to dry up. 1200 or 1210 is really as high as I would go since you want to err on the side of caution in case we do break through that support level. No telling where we would stop. I would prefer to be below 1200 so start there before grabbing the 1200/1210.
On Friday I called to have the February 1335 and 1340 added. They usually get added the next trading day, but it didn't happen today. Maybe tomorrow. When you call would you mind also requesting the 1335 and 1340 again. More squeaky wheels Oh yeah, the number is: 1-888-options
I was watching Dr. J on CBOE TV tonight and he addressed the time decay over a holiday weekend. Is he a lurker on this board lol . Check it out at www.cboe.com.
The market is trading is such a narrow range. Does anyone know if any news is expected today or in the next few days which can cause the market to trend? The charts on OEX seem to show an ascending triangle.......?