With higher highs off March bottom appearing imminent, I think odds are better than 50-50 old Mr. Market is dragged back down, keeping intact the past couple weeks sideways trade.
So, looks like I could be selling my April OEX 390 Call position with two weeks time value to spare.
395-400 ... maybe higher ... appears a reasonable target. It might be reached as soon as Thursday.
Technically, it's looking a bit like mid-December here. That's why I want to close out my speculative options position, sit back and see what develops.
Intermediate-term, everything still points higher. Hopefully it stays that way. So, stay tuned.
* * * * *
© The Risk Averse Alert — Advocating a patient, disciplined approach to stock market investing. Overriding objective is limiting financial risk. Minimizing investment capital loss is a priority.
Analysis centers on the stock market's path of least resistance. Long-term, this drives a simple strategy for safely investing a 401(k) for maximum profit. Intermediate-term, investing with stock index tracking-ETFs (both their long and short varieties) is advanced. Short-term, stock index options occasionally offer extraordinary profit opportunities when the stock market is moving along its projected path.
Nothing is set in stone. Nor is the stock market's path of least resistance always known. More often than not, there are no stock index option positions recommended.
There's an easy way to boost your investment discipline...Get Real-Time Trade Notification!
