Market Analysis:

Markets were off to the races this week closing in green every single day. After such a strong move off the reaction low near the S&P’s 100 day moving average, things are a little overheated at these levels.

The S&P 500 has risen back to the all time high in only 4 days of trading, a 1.6% gain since Tuesday. Such a rise into a long weekend is not uncommon.

Next week things will get back to normal and we are likely to observe a pause in the rally. There is no question new highs will be seen into the end of the year. However, it is unlikely those new highs will occur next week without a test of marginally lower levels.

Portfolio Analysis:

Time Bandit Trader current portfolio holdings login in to see holdings

The portfolio is currently holding 2 Sep put trades and 2 Oct call trades. Sep expiration is too close to sell puts to create iron condors for the Sep call trades.

Short term, SPX & RUT are both overheated as they have risen furiously into the holiday weekend. As a result, we anticipate getting an opportunity to open new put trades next week or the week after to create iron condors for Oct.

Despite the strong rise back toward all time highs, there is no other action required for any of our trades. All trades remain far OTM.

Option Scalper current portfolio holdings login in to see holdings

The portfolio is currently holding 1 call trade heading into the long Labor Day weekend. Short term, SPY is overheated as it has risen furiously into the holiday weekend.

Despite SPY continuing to rise all day, even after we opened today’s trade, there is no other action currently required.

We sincerely appreciate each and every one of our many Members and thank you for being a part of Many Ways To Trade.

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