TRADING WEEK JUL 17-21

The inflation numbers made the the market pop as SPY was up 2.4%. That was up significantly over the price of the straddle. The intraday trading ranges were mild as they checked in at 2.25, 3.53, 2.57, 2.93 and 2.87. The hi-lo for the week was a more impressive 13.77. If the market continues its upward trajectory the SPY 28Jul23 453-457 2x3 spread for a 1.22 debit makes sense. If the market turns downwards then convert it to a 1x2 spread. Retail Sales come out at 8:30am ET on the 18th, with Industrial Production coming out forty-five minutes later. Existing Home Sales and Leading Economic Indicators come out at 10:00am ET on the 19th. BAC and MS release their earnings before the opening on the 18th. GS and HAL release before the opening on the 19th, with IBM, UAL, AA, NFLX and TSLA releasing after the close. AAL, BX and SLB release before the opening on the 20th.