The Week Ahead
Volume 44
Good evening from London,
What a week for the Gazette subscribers. What started off as a bit of a tedious week which I admit shouldn’t have been traded, the last two days of the week were two of the best this year.
Options trades of the week… on Thursday, I gave an ES 3975/4000 bull put for Friday expiration at -20 which was cut at -3 and settled for 0. On Friday, I gave an ES 4000/4030 bull put at -21.25 closed at -1… settled for 0.
Two others, SOXL long at 14.95, stop out at 14.75, and target 15.4. And… on the nose dive on Thursday morning - NQ 03/17 buy/write (future/12,200 calls) for a price of 11,765 which is at 12,022.
Whilst the above trades were lucrative, I did find myself short a 0d strangle attempting to harvest some premium until Bostic’s comments hit the tape… that trade was quickly offloaded after the initial rip.
Anyway, here are the usual charts.
Considering the events coming up, further CTA supply, and where markets are in general - we are in for a busy month.
Jobs are going to be interesting! Flows were the winner this week, however, both flows and the macro narrative are about to face a significant test.