We are going short this market near the 4,170 price point in the ES. Buy a $416 SPY put that expires on Friday 5/19/23. It is currently trading for about $2.35 or $235 per contract.  We just traded to the highs of last Wednesday when we did huge volume on 5/10. The test of that high is in place and we will look for the market to trade lower. Stay tuned for updates!   Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study....

Rocket Equities & Options Report By Tommy O’Brien May 12, 2023 As of about 11:30am ET the SPY is trading at about $411. We have a SPY put which is in the money and expiring today. Make sure you sell this prior to the close today if you do not want to get assigned 100 shares short the SPY. Your broker may close you out as the close approaches if you are not eligible to short or do not have the margin for that position. Place an order to sell our SPY $413 put at $3.90, looking for a move...

The ES is back to the .618 retracement of the move lower - we are buying a put in the SPY for next Friday expiration.  Buy the May 12th $413 SPY Put for about $3.18. Our max loss is the $318 per contract. The SPY is at $412.65. This is a high risk trade as we will plan to hold it at least over the weekend, and if it gaps away from us Monday morning it could very easily be a full wipe out.   Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should...

The jobs number was out at 8:30 and unemployment is at 3.4% while wages increased 0.5% M/M vs 0.3% expected.  Look for market weakness to continue today, we may get a chance to short this market depending on how the open looks and how it trades with volume. 4,116 is the .382 retracement in the ES, and the 4,150 area is the .618 of this week's move lower in the market.  As long as wages are running hot it is going to be very difficult for inflation to get anywhere near 2%. The market is marginally higher right now after...

The S&P is back above 4,100 this morning as we get a pop on decent Meta earnings last night after the bell.  This market looks weak on what has been pretty spectacular tech earnings so far this week. We get AMZN, SNAP, and INTC tonight after the close, among others. We will look to get short this market after the open if this bounce holds. Stay tuned for updates!