Stocks closed the week higher and are inching back to November highs.
The market remains hesitant as Thursday's CPI figure came in exactly as predicted.
Despite Inflation remaining elevated, continued signs of a slowdown are on the horizon.
Now that doesn't mean that's already baked into the market.
But we're still in a bear market!
The stock market is closed Monday for MLK day.
The CBOE Volatility Index (VIX) closed this week at 18.
That's a 4-point decrease from last week.
So that means volatility remains elevated, but these are levels we haven't been at since April.
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.
- Buy-to-open WWE Feb 17, 2023, $95/$100 call spread
Right now, we’re holding:
- MLCO Jan 20, 2023, $12/$11 put spread
- WWE Feb 17, 2023, $95/$100 call spread
- BKR Feb 17, 2023, $30/$34 call spread
Have a great weekend and it's time to enjoy an ice-cold spicy margarita - TGIF!
Joshua M. Belanger