TRADING WEEK JAN 24TH-JAN 28TH

The SPY took a drubbing this past week as it was down 5.7%. The intraday trading ranges were 4.65, 8.15, 14.24 and 10.09. The hi-lo for the week was 22.0. The SPY 28Jan 437 straddle went out at 14.20. With an imminent Russian invasion of Ukraine as well as rising interest rates on the near term horizon it's probably a good buy. I think it's time to call a time out on the long straddles, however. If there is better news then the market might head up, at least temporarily. If that happens you'll hear the hissing sound of time value evaporating. The at the money QQQ stradddle was even more expensive at 15.24. If you're bearish then the QQQ 28Jan 348-342 put spread at 2.00 eliminates the time value boogey man. Normally the economic numbers released this coming week would have a big effect on the market, but in a serious downturn they mean less for both economic numbers and earnings reports. Here they are anyways. Consumer Confidence comes out at 10:00am ET on the 25th. The FOMC statement comes out at 2:00pm ET, followed a half hour later by Jay Powel's press conference on the 26th. GDP comes out at 8:30am ET on the 27th, followed 24 hours later by Real Disposable Income, Personal Income and Consumer Spending. On the 25th VZ, AXP, GE and ADM release their earnings before the opening with MSFT releasing after the close. On the 26th T and BA release before the opening, with TSLA releasing after the close. On the 27th MCD releases before the opening with AAPL releasing after the close.