By: Steve Smith
Goodbye, bored apes. Welcome to my wheelhouse.
Intraday price swings of 3% in the indices and 15%-plus ranges on individual names are my safe space.
This heightened volatility of large daily price swings, ubiquitous availability of intra-weekly option expirations, makes me a pig in crap. It’s truly the most wonderful time of the year.
Let’s just hope I can avoid mucking it up.
Options360 Concierge Service members are already benefiting by leveraging the recent SPY and CBOE Volatility (VIX) setups and built positions, as mentioned in yesterday’s article. Today, we made a quick 1 contract adjustment by locking in $350 (68% profit) if we were to do NOTHING for the next two weeks.
Essentially, the heightened volatility and use of multistrike strategies, which are interconnected, can seem confusing. But, it presents a great opportunity to build a position that can be traded against, and lock in profits along the way — with no jaws (or draws) dropped in a panic.
Today, we executed two small (2 contracts for a credit) adjustments, providing us the 68% profit mentioned above.
Here comes the hard part. Now that we have the upper hand, do I coast through this safe space for the next two weeks? Or dig, while under no pressure, for fresh opportunities?
You know the answer. Click HERE to get on board. It’s gonna be a good year.