BY MARK SEBASTIAN
April 2, 2024
Hey Traders,
We continue to see the pattern of the S&P 500 and S&P 500 volatility hold
As the market grinds higher, volatility is cycling higher and higher….Higher lows…and higher highs.
With the latest round culminating ahead of the long weekend and the S&P 500 breaking 5250 with futures over 5300.
Since the VIX bottomed last week the part that is a touch concerning is the move in the VIX futures since last Wednesday:
In 2 days VIX futures have rallied about .75…that is a pretty strong move given the S&P 500 closed higher on Monday than it did last Wednesday.
I think this all ends around interest rates or potentially around something we have failed to see in front of us.
Either way…in the next few weeks we have non-farms, CPI, and earnings…
While S&P 500 movement has tailed off I think it is only temporary…I like strangles for a week from Friday, they cost less than 70 dollars.
Speaking of temporary…I have discussed a couple of times how much I love to trade UVIX and UVXY when they reverse split….guess what….UVXY is reverse splitting.
I am going to trade this AND i am going to put on a trade, where I spend 1000 dollars and do not touch it…my 1000 dollars is going to double…just like the last time I put this trade on….you can join Trade Desk with a special price by clicking here….or call my team with questions 888 872 3301.
Your Only Option,
Mark Sebastian
Mark Sebastian
Founder & CEO, Option Pit
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain