TRADING WEEK SEP23RD-SEP27TH

Although widely anticipated the FED decision still supplied a decent amount of volatility. The intraday trading ranges for SPY were 3.21, 5.79, 7.86, 4.80 and 3.14. The hi-lo for the week was 12.98. Last week's at the money straddle, despite its rich price of 9.26 was a winner. On Tuesday and Wednesday there was some decent gamma scalping but the Wednesday closing to the Thursday opening of 11.33 made it a real winner. That is what made the at the money butterfly a loser. It was impossible to adjust the negative gamma position. On Friday it looked like it might be a winner as it was briefly in the money. At 0.86 it wasn't a disaster. Consumer Confidence comes out at 10:00am ET on the 24th. Pending Home Sales comes out forty-eight hours later. Personal Income, Personal Spending and the PCE Index come out at 8:30am ET on the 27th. The SPY 27Sep24 568 straddle at 6.75 is a decent buy. COST reports earnings on the 26th after the close and CCL reports before the opening on the 27th.