My warnings about the stock market have been very explicit clear since the beginning of March that a more serious correction was at hand. There is no use of me writing in this space if I am talking two ways, so I state it clearly when I have a position. Now I don’t always have a firm view, but when I do, I commit to it. 

My short positions in AAPL, XHB, SPY, WYNN, XLF were all detailed here. I currently also still have a long position in WMT June calls, also mentioned here. I have written weekly expiry options twice against this position, and this position is currently profitable. This is partly due to the increase in implied volatility both in the June long, as well as the premiums received for the weekly expiry options. My net cost after premiums received is about $2.00 for WMT June 90 calls. 

“I have never made a testimonial for anybody before but my results with Target Zone and Joe Duffy have been so phenomenal that I felt I had to share my success with other traders contemplating their service.”

To see what Greg S. is raving about, click here.

If you are not taking advantage of spread opportunities trading options, you are missing 75% of the opportunities. Target Zone subscribers excelled on this decline, through judicious use of spreads to cut risk and lock gains. 

In terms of where we go from here, I am a waiter not a trader here. Crazy anomalous moves without a lot of precedent are not when I like to participate. So my best advice is sit tight. Better opportunities are ALWAYS coming to those that are patient. 

Thanks,

Joe