smells, looks, feels like…but is it?

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


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