Market notes and setups updated for subscribers, September volatility will likely continue, with FOMC coming up in 10 days, things could get interesting.
$SPX Implied move for this week at +/- 134 points, almost double last weeks move. Calendar is light with inflation data as main drivers.
The countdown to FOMC interest rate meeting on 9/18 begins.
$SPY Big jobs report Friday
Big beat = risk of no cuts in September
Job comes inline = 25BPS cut in September
Big miss = Market will price in 50 Bps cut in September
Market likely won’t like both big beat or miss.
$SPX Implied move this week at +\- 76 points, short week with arket closed on Monday for Labor day. Premium sellers been eatting well for past 2 weeks as market been chopping sideways.
Since 1971, the $SPX has increased 70% of the time, with an average gain of 2.8% from Labor Day through the end of the year.
History backs 🐂 but definitely will get a better buy though in next few months
A trader bought 350,000 contracts of $VIX 22/30 call spreads expiring on 9/18, about $9M in premium.
Most likely hedging against potential September Vol.
If you understand how much of a disadvantage you are at when playing earnings with short term options, you will never play it again. The problem is, Kenny G want to keep this information from you.