SPX is not moving. I sold another call spread (very small position) - this time using the 2150/2160 (quite aggressive) on the October 26s. I received a credit of $3.70. I plan to close this out at half of the profit, once we get a pull back.
The market closed slightly lower today and even though most companies are posting decent earnings and guidance, the market is following the price of oil.
Volatility is low and falling. The SKEW is in the middle of nowhere around 123 and the percent of stocks above their 20 day moving average is around 41%. Nothing shows signs of great gains or a rapid correction. It seems like the trading range should continue with near term resistance somewhere around 2150 on the SPX.
