Girls’ Weekend

Hi Shoppers,

 

It’s Girls’ Weekend! Woo hoo!

 

 

What is it about seeing the people you know so well and know you so well?

 

The people you cannot wait to see again. Their very name puts a smile on your face.

 

We rehash all the same stories and laugh just as hard each time.

 

And there are a lot of stories as we have all known each other since sixth grade! 

 

Yep, we have a sisterhood.

 

We talk about what’s going on in our lives:  jobs, aging parents and lost loved ones we all knew.

 

Oh, and lots and lots of food (mostly bread, bread is the new treat) and lots and lots of drinks.

 

Everyone needs to do this every now and then just to refresh and reset ourselves.

 

It is good for the soul …

 

Even if you’re exhausted come Monday morning.

 

It’s all worth it.

 

And as we drive home we’re already thinking about the next time.

 

Ooops, my glass is empty, time for another “skinny” margarita.

 

I SPY This Trade

 

Looking at the SPDR S&P 500 (Ticker: SPY), I think we will be heading lower:

 

 

Friday’s candle is a doji, which shows the battle between the bulls and the bears — with the bulls giving up ground.

 

I think the SPY could pull back to at least $447 after being up 5% in eight trading days.

 

Looking at the options, I like the Nov. 05 expiration with fourteen days left:

 

 

      • If SPY opens and trades lower, I will buy the Nov. 05 453-strike puts trading an implied volatility of 10.32 and sell the 446 puts with an implied volatility of 12.65.
      • I will pay $1.80-$1.85 for this 7-point spread.
      • If it trades down to $1.25 I will take my losses. When it trades $3.00, I will take my profits.

 

Plan a great weekend with your old pals!

 

Thanks for Reading … See You Next Tuesday!

Licia Leslie

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