Today, everything started good, but ended not so well. The markets tried to push higher, but ended off their highs. The NDX retreated to its opening level.
The SKEW almost hit 130, market breadth was mixed and the P/C ratio fell further. Volatility fell and will likely fall by days end tomorrow even further as its Quadruple witching Friday.
With the SKEW up, it hard to sell premium on the call side. I will be looking for any strong up days to sell premium on the NDX particularly, and may even engage in some long put spreads if the market shows signs of deterioration.
