TRADING WEEK MAY 13-17

There was some volatility last week as the intraday trading ranges for SPY were 3.31, 2.12, 2.60, 3.50 and 3.05. The hi-lo for the week was 9.34. All of them less than the previous week. The lack of multiple earnings events and big economic numbers is the reason why. The pop up last Monday was key in making the long straddle profitable, although barely. The big economic numbers this week are the PPI at 8:30am ET on the 14th. CPI follows twenty-four hours later with Retail Sales coming out at the same time. On the 16th, Housing Starts comes out at 8:30am ET with Industrial Production following forty-five minutes later. Leading Economic Indicators comes out at 10:00am ET on the 17th. With all of these numbers the SPY 17May24 521 long straddle at 6.40 looks like a buy. HD releases earnings on the 14th before the opening. CSCO releases after the close on the 15th. WMT releases before the opening on the 16th.