Friday options recap

So last week I shared with you a couple of trade ideas that I took on the E Mini s&p as well as 30 year bonds and crude oil using the Friday expiration weekly options. So a lot of people I don’t think are aware of these or they don’t trade them or maybe they just don’t have enough knowledge or comfortable with them. But they are really a great tool if used properly. In fact, on Fridays, especially, I’d prefer to use them over the futures contract themselves, especially when we’re in periods of higher volatility situation. So as you may or may not know, we have weekly options that are listed every week and stunning weekly on contracts such as E Mini s&p crude oil, 30 year bonds, as well as currency futures. So the ones that I primarily like to play are E Mini s&p 30 year bond futures and crude oil the currencies are are nice, too. They’re not some are not as liquid, especially in the overnight session. But they can be used as good tools to trade in or around the futures contracts, which actually did in the euro currency earlier this week. So they list out well in advance. So it’s not like they’re only available for that particular week, you can go out several weeks in advance. But what we’re looking at here is coming in to a Friday, or perhaps Thursday, even in trading the expiration for that Friday afternoon. So these come off the board later today on Friday afternoon. And the reason that we like trading these is because sometimes we can skew our risk reward a little bit more favorable ie when we come down into key areas that we’d be looking to be a buyer or seller. Now that determines on what methodology you’re using. But mine is a combination of a few things, trading at key levels or structure, using one to three tops and bottoms. And of course, our divergence signals, as you can see, down here on the bottom panes. Now there was a couple of opportunities here today that I noted in our telegram rooms. First one was some buying buying opportunities down here at the 4250 area. You can see that was fairly short lived, but it was good for about a 10 point gain. And then the next level that we talked about was 4235, which is another area that I bought right down in here at 4233. Ish. That came up to 4241. We had another opportunity right down here at 4225. You can see that went up to 46. And so the way that I traded these levels here is by selling options selling weekly options, we also had an opportunity appear at the 4300 area, you can see obviously that happened that moved very nicely from from 43 to where we are at 4270. And so what I will do as we come into these areas, is I will sell I will go out a little bit further, perhaps the next area of structure support structure resistance. And because we are selling at deflated levels, we’re coming down into support levels, premiums are higher on the support side, just like if we came into this area, that means more buyers coming in, that pushes the volatility upwards on the call side. So I’m able to get a favorable price does it mean I have to sell at the money, I can come out here and sell out of the money. And that’s what I do. I typically in this case when we came down here into 4230. Whereas if you bought the futures contract, you might have to put because the volatility you might have to put five to 10 points of risks as $250 to $500 a contract. Alternatively, instead of buying at 4230 You could maybe go out 1520 Even 30 points and capture maybe 3456 points of premium knowing that you’re selling at a very quality level of either let the structure level or structure of resistance now did this on a 30 year bond. Last week I did it on crude oil and then I did it also the euro currency as well this week so something issued add to your radar. Now I’m gonna be talking about this exact same concept in the upcoming wealth 365 summit the week of April 4 through the ninth there’s going to be 60 plus speakers 60 Plus speakers, I guarantee you, these spots will be filled they will be taken up quickly. So I encourage you to head on over enter your name and email address to claim your free ticket. Lock it in. There’s no obligation and I can’t wait to see you there.