I have to say I was shocked when I saw the opening price of the VIX, VXN etc. As any VIX watcher knows the volatility indexes should be UP on a Monday not down or flat.
I do not usually use this blog for personal use. Today will be a rare exception. Yesterday, the world lost a truly unique and wonderful man: John Kark.
Traders, the market is back to doing nothing. The market has been flattish all week. The only shocking thing about the market as of late is the total lack of shock!
I will be on the road today on my way up to Detroit.
Today you can check out my post for Daily SFO here:SFO Magazine
I will also have a counter argument to th
Traders, my latest piece for OptionsZone is posted here: http://www.optionszone.com/trading-strategies/option-spreads/put-call-pa...
I have been surprised with the how little the market has been moving since Monday that the market has not tried to sell out the weekend already. But, that hasn't happened yet.
Over the last couple weeks I have been reviewing some interesting butterfly strategies. I made the case for setting up a butterfly using standard deviations.
A brief note today: I will be writing another piece on butterfly adjustment tonight. The subject will be improving on the strategy of buying calls to fix butterflies.
Trades may have noticed something today. The DJX was up 47 points, less than .5 a percent. The SPX, the NDX and the OEX were all up somewhere between three quarters of a percent and half a percent.
The market is absolutely smoking implied volatility today. The VIX while it says is only down .23%. But I am telling you traders, IV is way down.