TRADING WEEK NOV4TH-8TH
The mixture of the news coming out on Thursday and Friday last week accounted for some volatility in the market. The intraday trading ranges in SPY were 2.19, 4.48, 4.03, 7.18 and 4.93. The first three days accounted for some meager gamma scalping. The bearish news on Thursday accounted for an 11.37 gap between Wednesday and Thursday's closings. Friday's snapback wasn't big enough to make anything of it on the round trip. Productivity comes out at 8:30am ET on the 7th. Later in the day the FOMC meets at 2:00pm ET to arrive at their interest rate decision. Powell speaks at 2:30pm ET to add some color to their decision. The SPY 8Nov24 572 long straddle was little too rich for me at 14.65. Although SPY is not likely to sit there this week The SPY 8Nov24 567-572-577 call butterfly at 0.42 seemed too cheap to resist. PLTR releases earnings after the close on the 4th. ADM releases before the opening the next day. CVS releases before the opening on the 6th while DKNG releases after the close the following day.