More sideways, consolidating action. It continues to look constructive. I’ll be more concerned if we see a move under 2450, especially if it comes with an expansion of volatility.
The Korean Stock Market VIX still is under 20, so the market is not concerned about north korea. And oil is spiking on the back of the latest hurricane but it’s well within normal statistical bounds. If you ignore the headlines, the market still is pretty quiet.
Trade #1: C
Looking for a selloff into the 100 day moving average, along with a failed breakdown pattern.
Expected Price: 64.50
Sell To Open C Oct 62.50/57.50 Put Spread
Tier 1: Enter at 0.90, Close at 0.30
Tier 2: Enter at 1.20, Close at 0.90
Tier 3: Enter at 1.50, Close at 1.20
Trade #2: NVDA
This is a compression breakout setup. The stock has undergone 2 months of sideways action, and the overall trend should continue higher.
Expected Price: 166.30
Sell To Open NVDA Ocr 150/145 Put Spread
Tier 1: Enter at 0.80, Close at 0.50
Tier 2: Enter at 1.10, Close at 0.80
Tier 3: Enter at 1.40, Close at 1.10