This has been one of the wildest weeks in the markets in recent months.
The moves in equities, SPX and oil have all just been off the charts and trading it all took a lot of focus.
What makes things even more interesting is that the levels the ES/SPY had to trade into on options expiration where gaming always happens.
I didn’t want to be long at all today and just sat back on shorts waiting to trade and that paid off tremendously.
I’ve traded equity options as one strategy since 2011 and I’ve never seen this type of action on equities/SPY/ES options in all those years.
All I can say is this - for those who are awake to this there has never been a better time to trade the markets.
2020 was pretty incredible because everything went up but the vol we’re experiencing now within multiple asset classes is just insanity.
The ES had a $30 point range today and just like a repeat of last Friday it waited until end of day to roll.
That likely has a lot to do with ODTE options - they also are contributing to the market vol.
If you’ve been a subscriber to this blog, are in one of the other memberships or read what I write on my main substack here then you know I’ve been an advocate for ES futures options.
Not trading them in THIS market is just foolish.
I am going to cover a brief recap below but remember you need to transition over to one of the other memberships as this is the last month for this blog.