when options expire every third friday of the month funny things happen. things that can trap investors and traders alike…and possibly ruin their weekend.
such a day is today…or at least it seems to be…
the chart below says it all…hourly chart of the SPX. if we get a 'breakout fakeout' it would give us a nice setup to the short side. until such time however we best watch and learn from the sidelines.
we sold (wrote) 130 strike january calls on the SPY for bucket 2 this morning. this can also be done with call spreads of course
