TRADING WEEK JUN7TH - JUN11TH

There was slightly more volatility during the abbreviated trading week than the previous week. The intraday trading ranges for SPY were 3.52, 1.94, 3.71 and 4.08. The VIX was down slightly as the SPY was up slightly. A big number, CPI, is coming up this week. When an inflationary number came out on May 12th, SPY dropped to 4.04.00. If you can pick up the SPY 11Jun 422.50 straddle for under 4.00 you should be able to trade around it for close to a breakeven scenario even if the CPI number is not a blockbuster. The GLD 11Jun 178.50-181.00-183.50 was down a few cents from 0.40. Along the same line you could pick up the GLD 18Jun-11Jun 180 long call time value spread for 0.42. CPI comes out at 8:30am ET this Wednesday.