1/23 Recap

The SPY continues its strength over all the big moving averages. Today was a digestion session where we are just doing nothing. The 8 ema needs to catch up and it is still below 600 with us at 607.xx. No eventful data this week, but next week we get a plethora of it so I would use today and tomorrow to lighten up your positions into a volatile week ahead.

Recent Trades

GE - In yesterday’s recap I highlighted these GE short puts because of how gutsy they were into earnings. GE had fantastic earnings and is up 7% to 202.xx now leaving these short puts expiring worthless this week for a huge profit. It’s always notable to see put sales right before earnings and if you follow those, they’re probably going to work at a higher clip just because nobody is going to place a trade like that without a degree of probability tilted in their favor.

My Open Book