#Market #LEAPs Not a good end to the day… are we really surprised or freaked out by interest rates? Or is this market just not getting back through 2800 for the rest of the year? We are now in the fifth month of a market that cannot rally like we saw it do so often in 2016/2017. Stuck again in a Downside Warning that goes more up than down, but apparently means there is no follow through on rallies.
Missed fills on the bounce so got stuck selling calls near the lows. I don’t want to be stuck with short puts on this without selling calls as well.
Sold $TQQQ July 6th 64 calls for 1.35.
#Market Financials ($XLF) got off their ass yesterday and are up again today, but tech ($XLK) is tumbling. Seems that these rallies can’t get everyone to join the party at the same time.
#Market Today we are down less than 1%, which in 2018 is notable. VIX not up much, and UVXY and VXX could barely be considered to be spiking, given the huge drop they saw in the last week. UVXY had been at 20 for a couple weeks, then a quick drop to 15, and barely up today.
Meantime, SPX could barely get above 2700. Is this the new normal? Consolidating indices all year and volatility drifts downward as we get used to it?
I thought this was an interesting view on the current #Market