Marketfy Maven Sang Lucci has been successfully trading options for over six years. He began his career at a proprietary trading firm where he studied the techniques of other traders while managing his own account… Read more from this author
View Product Details Sign up to get updates and product information from this Maven Options for this week have finally started showing sentiment to the long side.
We’ve seen a few big name stock hit new highs such as Google (NASDAQ: GOOG), Amazon (NASDAQ: AMZN) and Priceline.com (NASDAQ: PCLN). These were mentioned last week for dip buying opportunities once the markets started showing some major recovery. Volatility traders made a boat load last week, going into the short weekend.
This being said, we’re approaching some interesting areas on the S&P 500 (NYSE: SPY) at 163 and holding. We could possibly be in a bullish market very soon here. Dip buying opportunities should be noted as volatility will start drying up if we start trending again, making it harder for vol traders and easier for the guys trying to go net long calls or puts.
Consider dip buys a considerable discount on the calls. Watch for some type of momentum to hit the financials to really give the SPY
some juice.
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Posted in: Long Ideas, Short Ideas, Technicals, Options, Markets, Trading Ideas