Episode 31 Option Trading Strategies October 12 2018

Option Trading Podcast | The Weekly Option

Option Trading Podcast

Episode 31 October 15, 2018

Welcome to The Weekly Option, a weekly program that offers practical trades and discussion for beginners and professionals alike.

It’s always great to hear from listeners. If you have any questions about the trades presented here or about your own positions, feel free to email me.

Email questions to me: eric@theweeklyoption.com

I’ve also created a short video series to teach you all the basics of option trading you’ll need to be able to follow along with me on this show. You can visit our website and click on the videos tab to watch them, or visit our YouTube Channel for The Weekly Option.com.

What a crazy week. We had a 5% correction over the course of two days, Wednesday and Thursday. We saw a 1% pullback on Friday, which is pretty typical after a large move. As people take profits on short trades from short trades on the week, they typically will close out the trade prior to the weekend. Lots can happen over the weekend. If traders made some money on Wednesday and Thursday, they will definitely try to lock in profits before end of day on Friday.

The market finished the week down 4%. The Dow Jones Industrial Average ended the week down 1,107 points, closing at 25,339.99 points on Friday. The S&P 500 Index fell 118 points to end the week at 2,767 points.

This upcoming week there are 191 public companies that will be announcing their earnings. On Monday Bank of America will announce. On Tuesday we’ll hear from Interactive Brokers, BlackRock, Goldman Sachs, Netflix, Johnson & Johnson, and Morgan Stanley. On Wednesday, Alcoa, Abbott Labs, US Bancorp, and Kinder Morgan will announce earnings. On Thursday Blackstone Group, E-Trade, PayPal, and Phillip Morris will report earnings. And on Friday we’ll hear from Proctor and Gamble and Schlumberger.

In this week’s show, we will cover the trades from last week on Coty Inc, Transocean, and Anadarko Petroleum Company.

And we discuss three new trades on CNX Resources, SPDR S&P 500 ETF, and US Oil Fund ETF.

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