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The Dow Futures Report
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Quadruple Witching Stirs Choppy Trade
Fri, Jun 20 2008, 08:40 GMT
by Carley Garner
**I was recently interviewed by Stock Shotz!! Visit YouTube.com and search Carley Garner Stock Shotz to listen.
After a few intraday dips that looked to spell disaster, equities managed a rally going into the close of trade but most importantly expiration of the June options and futures (AKA quadruple witching). Whether this was the “bottom” or simply an artificial option expiration rally is yet to be known, however I am leaning toward the upside here.
Today was the last trading day for the June futures. If you held the contract into expiration you will be facing the consequences of being forced to accept the CBOT’s cash settlement price. The final settlement price is based on a seemingly arbitrary calculation and the outcome may or may not be in your favor. Trading is difficult enough, I don’t recommend leaving the monetary results of your trading up to someone else’s interpretation of what the contract may be worth. If you like to take chances like that, come to Vegas I will show you around the casinos.
Crude oil crumbled, falling nearly $5 per barrel on the session. This doesn’t make a bear market in energies and certainly doesn’t make crude oil a bargain but it does give investors hope and that is a good start. Let’s face it, stock prices are built on hope. Hope of future earnings, hope that shares will be worth more in the future, etc.
The S&P failed to reach swiftly oversold levels, but the Dow did. The quicker of my clients was able to get a fill on the recommendation in yesterday’s report to sell Dow puts. Others were working orders today with little luck. However, the correction may not be over. We will try to sell puts in the coming sessions. Stay tuned for details.
Please note: A mini-sized Dow chart is used because it is better for charting purposes, but trade recommendations are based the full sized Dow unless otherwise noted.
Dow Recommendations...
**There is unlimited risk in naked option selling and futures trading
Position Trade –
June 18th – My clients were recommended to sell the July mini-Dow 11,000 puts and were filled at 50.
- * Only the quick were filled on this trade, for those that missed the entry I recommend working the order for now
Please note: A mini-Nasdaq chart is used because it is better for charting purposes, trade recommendations will denote whether a mini or full sized contract should be used.
Nasdaq Recommendation
**There is unlimited risk in naked option selling and futures trading
Position Trade –
Flat
Published on Fri, Jun 20 2008, 08:45 GMT
Archive
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Published On Wed, May 27 2009, 06:17 GMT - US Stocks fall
Published On Fri, May 22 2009, 06:52 GMT - US Stocks retreat from early gains
Published On Thu, May 21 2009, 06:39 GMT
Alaron Futures and Options
| 822 W. Washington Blvd. Chicago IL 60607
http://www.alaron.com | info@alaron.com
Legal disclaimer and risk disclosure
Legal disclaimer and risk disclosure: Alaron Futures and Options, Futures Commission Merchant (FCM), specializes in futures, futures options, and cash metals through Alaron for Retail, Introducing Brokers (IB's) and Institutions. Alaron offers broker-assisted, single stock futures, discount, Simulated Trading, managed futures, access to several state-of-the art online trading platforms and systems trading. Trade online 24 hours a day! Direct-to-the market trading of E-Minis, Bonds and Notes, Single Stock Futures, Liffe, Eurex, Simex and more. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation on our part with respect to the sale or purchase of any securities or commodities. Alaron Trading Corp., its officers and directors may in the normal course of business have positions, which may or may not agree with the opinions expressed in this report. Any decision to purchase or sell as a result of the opinions expressed in this report will be the full responsibility of the person authorizing such transaction.Interested in forex trading? forex brokerage firms!
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