Typical summer trading. Relentless push higher on light volume with occasional severe volatility shocks.
I don’t think this is the smart money buying all time highs on light volume and largely bad news. Hopium for a rate cut? Doubt that is happening when inflation is still high and gas is at $4 a gallon locally and we tend to be on the cheaper side locally as our oil and gas comes straight off big ships. Trade appropriately!

But still frustrating that I have to adjust trades around the dumb money that is late to the party. Oh well, I can take their money if they are going to give it away so freely.

Hope everyone is having a good summer and staying cool! We bike raced Tuesday night and the heat index was 107, lots of fluids kept everyone going.

BWB with calendar or directional adjustments are still doing well as long as you keep the expirations off FOMC and CPI weeks. On those weeks the market makers flip the volatility skew and then only profitable on expiration day and very close to the end of the day. Much better to make 10% weekly and get out way before the gamma effects kick in.

Cheers!