TRADING WEEK JAN2-5

Although anything can happen in a given week this past one was fairly predictable. The intraday trading ranges for SPY were 2.59,1.77, 1.29 and 3.73. The hi-lo for the week was 4.25. The butterfly had a 250% return. The 474 short straddle would have been an even greater return but the margin would have been sky high. It's another four day week upcoming but the last day of the week the unemployment rate, non-farm payrolls and average hourly wages come out at 8:30am ET. The SPY 5Jan24 475 straddle is priced at 4.90. It's not a sure buy but the market is not expected to be as sluggish as it was this past week. Construction Spending comes out at 10:00am ET on the 2nd. WBA releases earnings before the opening on the 4th before the opening.