All options that are OTM are so low in volatility that it makes it impossible to trade profitably. VIX is dropping, and ITM and ATM options are at hugely high premiums. When this is true, we know what to do....stop trading.
Don't try to make money when there is no money to be made.
Take any open calls or puts and sell for up to a 25% profit from your averaged cost, and use as a stop loss for any open OTM option Friday of this week.
We will not issue a new trade or break our almost spotless recent record with the type of volatiity we are seeing. Tuesday the market moved from just over 9300 to just under 9000 in the course of the day, with options only moving pennies. It's simply too high risk a market to trade OTM, and ITM and ATM are simply too high risk.
Political commentary: Volker was a brilliant statesman, and Secretary of the Treasury. Want facts? Check what occurred within his tenure, and what he did. This man is on Obama's team.
Sarah Palin is not a President, and there is a 1 in 3 chance she could be. Elect smartly in the highest risk time in your lives.
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