MTM Options Trader Newsletter - Trade With the Trend

This Week in the Market Of the three major indexes, only the Dow has been unable to reach a new all-time high, with both Nasdaq and the S&P 500 setting multiple all-time highs several times last week. It really is crazy to think about how this market continues to gap and plod higher seemingly almost every week. All three indexes are way above their 50-day and 200-day moving averages. Despite the continued move higher, implied volatility has not moved much over the past couple of weeks with levels refusing to drop. Potentially good news and updates about COVID-19 vaccines and tests continue to motivate buyers. The latest jobs report (August) is scheduled to be released ahead of the open on Friday. Several other economic reports are slated for release as well, including the latest trade deficit figure. Quarterly earnings remain slow, but a few will trickle in this week. Consider maintaining a bullish to non-bearish bias on the market until proven otherwise, and have a happy, healthy and profitable week!

Sep 1: Construction Spending Sep 2: Factory Orders Sep 2: Beige Book Sep 3: Jobless Claims Sep 3: Trade Deficit Sep 4: Unemployment Read Our Blog

Trade With the Trend If you have traded for any serious amount of time, you have probably heard the saying "the trend is your friend." I start my Group Coaching class each and every session by reminding traders to consider the trend. To me it is an important reminder to look for opportunities when it comes to trends. As traders, we are always searching for an edge and ways to put the odds on our side. Looking for opportunities and being patient fit these criteria. To me an uptrend is an underlying that is setting higher highs and higher lows. I consider these highs and lows to be pivot levels. I tell my class to be patient and Continue Reading ... MTM Watchlist Here are several trade ideas we will look at in group coaching class this week: ROKU – After the stock shot up higher this week, potential bull calls and bull puts will be considered on Monday. NVDA – After breaking through some resistance around the $513 level on Friday, the stock climbed higher. Bull call spreads will be explored early in the week. VLO – Energy stocks continue to trade sideways and in a channel. Potential iron condors will be considered around support and resistance levels.

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The strategies in this newsletter are for educational and informative purposes only. All information disclosed in this newsletter should not be considered complete in its entirety. Market Taker Mentoring, Inc. will not be held responsible for changes, oversights, errors or omissions. Dates, prices, news and other information may not be accurate. Please verify all information before trading. You alone are responsible for your own investment decisions. Options involve risk and are not suitable for all investors. Before trading options, please read Characteristics and Risks of Standardized Option (ODD), which can be obtained from your broker; by calling (888) OPTIONS; or from The Options Clearing Corp., 125 S. Franklin St., Suite 1200, Chicago, IL 60606. No statement in this newsletter is intended to be a recommendation or solicitation to buy or sell any security or to provide investment or trading advice. Traders and investors considering options should consult a professional tax advisor as to how taxes may affect the outcome of contemplated options transactions. Copyright Market Taker Mentoring, Inc. 2008 - 2020. All rights reserved. Reproducing or redistributing this content is a violation of federal law.

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