Markets continue in a super tight range that started back in July. Very, very low volatility with rotation underneath the surface. To put it into context… the only vol we have seen was back on July 27th. That day’s range encompasses all price action for nearly 3 weeks worth of action.
Trend is still up so until we see evidence to the contrary, most bets should be on the bullish side. Key support at 2450, key resistance at 2500.
Trade #1: MA
This stock caught a little heat on earnings, and I’d like to see it rollover and retest the key levels from June, which coincide with a rising 50 day moving average.
Expected Price: 125.10
Sell to Open MA Sep 120/115 Put Spread
Tier 1: Open at 0.60, Close at 0.10
Tier 2: Open at 0.90, Close at 0.60
Tier 3: Open at 1.20, Close at 0.90