TRADING WEEK JUN 15TH- JUN 19TH

Last Monday on June 8th something unusual happened. There was a 1.2% hike in the SPY accompanied by a 5.3% hike in the VIX. SPY and VIX are almost always negatively correlated. This presented an opportunity similar to the one a quarterback has when he knows the defense is offsides. He can fling the ball downfield without worrying about an interception. He's risking giving up a shorter gain for a possible touchdown. Similarly a trader realizes that premium has probably bottomed out. Taking a positive gamma position under these circumstances makes sense. There was a minor increase in the VIX over the next two days and the intraday trading ranges were 3.92 and 4.17. Nothing to write home about but at least something to work with. On Thursday the bottom fell out of the market. The SPY dropped 5.8% and the VIX skyrocketed 47.8%. The intraday trading ranges for Thursday and Friday were 12.14 and 10.48. The Wednesday close to Thursday opening was 7.54 and the Thursday-Friday was 7.63. If the VIX rises again this week one strategy to look at is buying two 0.30 delta calls and selling three 0.20 delta calls in a cycle with at least two weeks until expiration. If the panic subsides it will be a winner. Leading Economic Indicators come out on the 18th at 10:00am ET. ORCL releases earnings on the 16th after the close and KR releases before the opening on the 18th.