TRADING WEEK JUL 24-28

It was a sluggish week for the market as the intraday trading ranges for the week were 2.85, 4.81, 1.32, 3.66 and 2.0. The hi-lo for the week was 7.35. The SPY 2X3 spread is at about a breakeven point now. If the SPY rises at the same rate as it did last week it will be a big winner. Otherwise adjustments will be in order. AAPL will be having earnings after the close on August 3rd. The 04Aug23 AAPL 192.5 straddle is offered at 8.40. You won't have to worry about the full burn from the negative theta in the position as the implied volatility should keep expanding into the earnings date. It would be wise to completely trim your greeks before the earnings announcement. Consumer Confidence will be coming out at 10:00am ET on the 25th. The big event of the week takes place on the 26th. That's the FOMC decision on interest rates at 2:00pm ET followed by Jay Powell's press conference at 2:30. GDP is released at 8:30am ET on the 27th, followed ninety minutes later by Pending Home Sales. PCE comes out at 8:30am ET on the 28th. This week is the World Series of earnings reports. On the 25th GM and DOW release earnings before the opening. VZ, V and GOOGL release after the close along with the big daddy, MSFT. BA, KO and T release before the opening on the 26th, with EBAY and META releasing after the close. BMY, MCD and LUV release before the opening on the 27th, with AMZN releasing after the close. PG, CVX and XOM release before the opening on the 28th.