Market Musing 7-24-2018, Bitcoin Rising, Calendar Trades
Topics for Indianapolis DNOWS Options Meetup:
Bob Shenberger - Markets Trends
Ken Yamasaki - BPI and RS
George Crawford - Market Musing and Calendar Spreads Best Practices
1. Low Volatility: VIX < 12.00
SPX and /ES were flat last week. The SPX Options are pricing in range for the week is +- 30 or 2780 to 2830. /ES and SPX are making a run at cracking 2820 this week. Will QQQ and RUT reach new high this week too? GDPNOW is forecasting 4.5% for 2Q US GDP. Wonder if this GDP bump up is more about FED Rate Hike coming in August? Tom Sosnoff had a warning:Today, AMZN and NFLX currently have a greater combined market cap than the float of all the ETFs in the US and China. Skew is still above 153. Are these warning signs for a potential selloff? Do you have your hedges on? For now low volatility trading: Diagonals, Calendars and Debit spreads.
2. E-currencies vs US Dollar:
Bitcoin finally break out of its range hitting 8360 this morning. How high can Bitcoin go if it finally breaks out past 7800? Check out Teeka Iwari and Glenn Beck’s discussion on Cryptos for Palm Beach Group. Link is below. Are you mining cryptos in private wallets yet? US Dollar had a triple top at 95.5 and dropped after Trump complaint on excessive Fed Rate Hikes. US Dollar is range bound between 93.5 and 95.5
https://www.coinbase.com/charts?locale=en-US
https://secure.palmbeachgroup.com/chain?cid=MKT368820&eid=MKT369783&encryptedSnaid=&snaid=&step=start#AST87082
3. Cherry Picks Newsletters:
Tasty Trade Researchers publish an awesome weekly newsletter every Tuesday. If this blog sounds like gibberish, watch "Where do I start 101" free education series on Tastytrade.com
https://s3.amazonaws.com/cherry-picks-s3-bucket-newsletter/live/18_07_17_tastytrade_Research.pdf?mc_cid=b88e78a230&mc_eid=e9e24bad07
https://www.tastytrade.com/tt/shows/wdis-options-101/episodes/internship-day-1-03-30-2017
4. Trump Trades:
Invest in Twitter. All executives are using twitter for direct access to clients, customers and citizens.
Tariff / Trade Wars - Short China, Short Solar, Short American Farmers, Short Global Automakers
5. TRADE Log: VIX < 12
- Broken Wing Butterfly, Dynamic Iron Condors
- Calendars, Diagonals, and Debit Spread
- Risk Twisted Spread - QQQ and SPY Quarterly Hedge
- Calendars - RUT, QQQ Case Study
6. Videos:
https://www.tastytrade.com/tt/shows/best-practices/episodes/calendar-spread-mechanics-07-23-2018
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