Well, after what seemed like a volatile few weeks, the markets are just a bit higher than where we were at the entry of our current, but soon expiring primary conservative HiPOS trade. Looking at the graph above, you can see the market never seemed to make any threatening moves towards the position. So, after all that volatility, we are now just about where we were when it started.
To quote a famous 1972 song from Stealers Wheels, the market is “stuck in the middle with you”. This may come in handy should you find yourself in a random trivia game, or it could just be a nice analogy to where we’ve wound up in the underlying S&P 500 Index.
Jay was able to speak with Oliver Renick on the TD Ameritrade Network this morning regarding what ZEGA’s traders are looking at in today’s markets. With the heightened volatility lately, Jay went into detail about the Pairs tactic that is used in HiPOS Aggressive.
Click here for a PDF version of our July performance numbers.
It would seem like a tale of two markets of late. One day listening to CNBC the prognosticators profess doom and gloom, the next day full steam ahead. While the market has been volatile of late thus far the underlying S&P 500 Index is sitting a bit above where it was when we first placed our primary HiPOS trade. So, are the market winds changing back to bullish?
After a respite yesterday, volatility came surging back this morning as the markets once again sold off. This leg down along with the rise in implied volatility provided an opportunity to enter a new position utilizing short put spreads going out to September 6th.