The Week Ahead
Volume 75 - Highest since 2007
There is only one corner of the universe you can be certain of improving, and that's your own self.
-- Aldous Huxley
Good morning all,
I am back from Crete to a very chilly England…
Despite being away last week, we had a great week. Two losers, which were a small NFLX put spread (I am still long stock), and also, we sold the TSLA straddle pre-earnings, which we swiftly covered for a loss. The main index trade for the week was mentioned in last week’s post as shown below… (we also sold the SPX 4390/4400 call spread for -5).
As well as this on Friday given on the private Twitter which settled up at max gain…
A few catalysts this week but pretty light data wise:
October 24th - S&P Global US Manuf/Services PMI
October 26th - ECB Rate Decision
October 27th - US PCE
October 27th - U. of Mich Sentiment/Inflation Expectations
A tonne of earnings to hit the tape this week.
The post below was where I turned bearish dated August 6th…
“The pain trade is now down.”
Still holding short ES from 4511.25, RSP short, lots of baskets short, and a November SPX 4200/4300 put spread.
The Week Ahead
It is better to sleep on things beforehand than lie awake about them afterwards. -- Baltasar Gracian Happy Sunday to all. An interesting week with some clear reminders of summer liquidity. Some vol finally across most asset classes.
A lot has happened in the past week, and a lot is to happen in the coming week, so there is much to discuss.
The Usual Charts
Anyway, let’s dig in…
Single Stock, Index & Vol
I think it is quite clear where stocks can head this week