Dear Trader,
Happy Friday!
It was Quadruple Witching day, which happens four times a year.
That means stock index futures, stock index options and stock options all expire the same day.
Today, we saw $2.2 trillion in positions expire.
The market continues to be on edge as we grapple with a host of issues, including trade tensions, interest rates and the pace of economic growth.
We do have a position that expires today, which we'll cover in a few minutes.
The CBOE Volatility Index (VIX) which closed at 31.
That’s an increase of 4 percent from last week's reading and indicates we will continue to see 100 point swings in S&P 500.
Now let’s talk shop.
Today, this position will expire.
FB June 17, 2022, $240/$255 call spread
Unfortunately, we don’t have more time for this to play out.
There’s nothing that you need to do, and they will be removed from your account over the weekend.
Taking losses isn’t fun, but without the bitter, the sweet isn’t as sweet.
But remember…
The sweet part is making money and losses are part of the process.
You may have noticed that your trade alerts look a little different.
We rolled out a new alert system that provides the exact trade through SMS.
Here’s a recap of what we did this week.
Here’s a recap of what we did this week.
On Monday - Friday:
No action.
Right now, we’re holding:
Have a great weekend and enjoy a fresh spicy margarita - TGIF!
To your wealth, freedom, and options!
Joshua M. Belanger