TRADING WEEK AUG 12-16

The market was wildly volatile last week with SPY opening down 21.26 on last Monday morning to recovering 13.31 from its low for the day. The intraday trading ranges for SPY were 13.31, 11.88, 13.54, 9.45 and 5.95. The hi-lo for the week was 23.24. There was plenty of up and down volatility for the week. The negative gamma SPY 09Aug24 528-533-538 butterfly performed spectacularly well as it went to its peak profitability on the 9th. You would have done even better, much better, had you established a positive gamma position. On the 13th PPI comes out at 8:30am ET, followed twenty-four hours later by the CPI. U.S. Retail Sales come out on 15th at 8:30am ET, followed forty-five minutes later by Industrial Production. Housing Starts comes out at 8:30am ET on 16th. That's two inflation numbers and three recession numbers. The SPY 16Aug24 533 straddle, priced at 10.00 is worth a shot even though it is very expensive. GOLD releases earnings on the 12th before the opening. CSCO releases after the close on the 14th. WMT releases before the opening on the 15th.