TRADING WEEK APR 13TH-APR 17TH

With the SPY up 12.1% week to week, the VIX down only 10.9% and the VIX futures in September still above 30 it looks like we're still in for more volatility ,although less of the end of days variety. With the intraday trading ranges of 18.83, 10.14, 10.75 and 5.73 the time value declined but not by much. The implosion in time value happened the previous week. Unless some miracle cure or therapy for Covid-19 happens this week there will still be the worry of what the virus can due to the economy as well as what it can do to the health and mortality of people. It may be a time to get positive gamma and vega. It's not without its risks but there should be enough movement to pay for at least 75% of the decay in time value. Earnings season kicks off this week with the banks and investment banks. On the 14th before the opening JPM and WFC report. BAC, GS and MS report the following morning. ABT, which is involved with a potential Covid therapy, reports before the opening this Thursday.