Today was one of the best webinars we have ever had – the discussions, wisdom, and analysis shared were really valuable.
Before I brought in Marty Kearney from the Chicago Board Options Exchange (CBOE), we took a look at the markets, which had a very interesting session today, as well as the SPX and VIX charts.
The market chart still shows a wide range for movement – and we are at the top of it now. It’ll be interesting to see if we eclipse the 2065 top or drift back down to 1990 (lower end of range). Given the strong move this week, we are now overbought on a short-term basis and may turn down. The VIX is now oversold and has moved through a downtrend line, but it may be too much too fast. The jobs number on Friday may be a catalyst to a move.
Now for the fun part: CBOE trader and educator Marty Kearney, who gave us insight into what is currently happening in the Chicago pits and how to measure price moves and manage volatility. The biggest takeaway from our discussion: Marty believes weekly options are here to stay, and they may be contributing to volatility.
If you aren’t familiar with the CBOE, definitely check them out. The site offers excellent options trading resources, including commentaries and blogs, rich content, and statistical data. It’s worth exploring!