Trading into this weekend had been suddenly volatile due to a banking failure on the West Coast that may be spreading, ominously, as fear and panic have picked up a bid. If nothing else it has added value to options that may have been given up upon if not already closed out via trailing stops. I'm including everything in the two tables below, including newly established IYR put near the close yesterday as IYR closed below $85. All quotes are as of an hour after Friday's Open: PRO Service Premium Service Next week more economic numbers will be hitting the market, chief among them being CPI due out Tuesday. The next Fed meeting is March 21-22, which means any March 17th expirations will be well off of the board for any fireworks emanating therefrom. Accordingly, we want to be moving from March monthly (Mar 17th) to April monthly (April 21st) between today and next Friday, either all at once or gradually, as next week unfolds. Needless to say, its easier to make changes during non-news event dominated trading sessions. Where are they when you need them? Note: VIX monthly calls expire on March 22nd, unlike the rest of March monthly options which expire on March 17th. VIX: +33% (from 18 to 24) in the past 5 trading sessions with 8 trading sessions to go until expiration on the 22nd. TSLA TSLA has entered into its Fib Retracement Zone and is holding up well today, considering. I don't expect a straight up shot in this market environment, but will monitor all my models daily for signs of turn around and the beginning of Primary Wave (3) up.
