Hi Shoppers,
I used to love rollercoasters.
They scared the hell out of me and I screamed the whole time, but loved it.
It’s been so long, I’m not even sure I can handle a roller coaster anymore.
How about you?
Check out Tuesday’s five-minute chart on the S&P 500 (Ticker: SPX):
Folks, that is a rollercoaster! Woo-wee!
With the market moving like this, it is so easy to get pushed around.
Add to this movement the headlines we are getting every day … it makes it feel just about impossible to trade.
But I can help you get grounded.
And very likely making HUGE profits.
It starts when you attend this live event tomorrow, Thursday, at 8 p.m. ET featuring some of the BEST Option Pit has to offer.
Who is it, you ask?
Our very own Andrew Giovinazzi. The man can answer ANY options questions you may have and he can put together ANY kind of options strategy to attain a profitable goal. He knows his stuff.
Add to that, our Power Income Trader Bill Griffo. This guy can explain anything and everything macro related. He can almost see the future of the individual market sectors and knows all things Fed.
And, of course, our liaison to the people pulling all the strings, Frank Gregory. When we hear the pols speak, most of the time we have no idea what they are saying. Frank is our translator and he knows how to apply that polspeak to the markets to turn it into profits.
Join our Option Pit trio to help keep you grounded and insulate yourself from these wild moves.
These guys have the guidance to give you the confidence to tackle this crazy market.
Now …
For a really ugly chart – and how to play it.
Can You Hear Me Now?
Looks to me like Verizon (Ticker: VZ) could be trading lower very soon.
Check out that ugly candle formed yesterday:
VZ closed at $53.25, on its lows of the session.
I think VZ can trade down to $50.85 and possibly $49.75.
Looking at the options, I would be a buyer of the 53.50 puts in the March 18 cycle:
The implied volatility is a bit pumped here, as it truly is everywhere, but I think VZ will move down quick enough to get these puts to trade higher.
If VZ opens and trades lower this morning, I will be a buyer of the March 18 53.50 puts and I will pay up to $1.05.
Trade Review
On Sunday, I recommended call spreads in both GLD and SLV.
Well, GLD opened up almost $2 and proceeded to trade higher. It was too big a move for me to hop on, but GLD did keep going and traded $193.30. I was calling for $194.
I did hop on the SLV train. I bought the April 14 23.50/27.50 calls spread and paid $.80. It went out last night around $1.20. I still think SLV is going to trade $26.50 and $28.
Thanks for Reading … See You Tomorrow!
Licia Leslie