I hope you had a great Thanksgiving.
It's Black Friday and that means the market closed at 1pm EST.
Stocks saw a slight increase as inflation concerns cooled off.
But this week's action was on lighter volume and not something to put much weight behind.
The big news is coming out of China, which continues to enforce a zero covid policy.
They are continuing to enforce lockdowns in certain areas.
But it does look like the Chinese people are starting to push back, so that's something to keep an eye on.
This has been a headwind on BABA position, but we do still have some time to play out before we need to make a decision.
The CBOE Volatility Index (VIX) closed this week at 20.
That's a 3-point decrease from last week.
So that means volatility remains elevated, but not as much as it was a month ago.
We will continue to see swings, but not as large.
Now let’s talk shop.
Here’s a recap of what we did this week.
Right now, we’re holding:
- BABA Dec. 16, 2022, $95/$115 call spread
Have a great weekend and it's time to enjoy a ice cold spicy margarita - TGIF!
Joshua M. Belanger