Today the SPX opened miserably down and almost touched the 2131 level before reaching its high around 2145 within an hour. After that it was a fade and a rebound to close only fractionally down. The RUT floundered and lost almost 1%, and AAPL weighed on the NDX. Still the markets are tightly range bound with the SPX flip-flopping between 2130 and 2150 this week.
I rolled out the 2150/2160 SPX call spread due to expire in two days to next Monday. For an extra trading day of expiration, I was able to get another 80 cents so now the total for that spread is a $5.15 credit.
The important after-hours movers were generally bullish, except for ORLY, so we cannot blame bad news for a soft open tomorrow. No real important companies are reporting before the bell either.
The indicators are indecisive. VIX rose insignificantly, $TRIN ended down around 0.65. SKEW is still only around 123. I dare jinx the whole market and say that this ideal 'going nowhere' could still continue for some time.
Tomorrow, I will try and roll the 2130/2120 put spread and bring in more premium.
