TRADING WEEK SEP25-29

The FED passed on raising rates but didn't say that they were done with raising rates. The market didn't hate that news but they weren't exactly thrilled with it either. The intraday trading ranges for the week were 2.51, 3.35, 6.01, 4.74 and 4.11. The hi-lo for the week was 14.98. The SPY long straddle was a big winner last week. The SPY 29Sep23 431 straddle is priced at 7.35, almost two points higher than last week's at the money one week straddle. On the 26th New Home Sales comes out at 8:30am ET. That is followed ninety minutes by Consumer Confidence. On the 29th Personal Income and Personal Spending come out at 8:30am ET. None of the numbers are particularly sexy so I'll take a pass on the straddle this week. Instead I'm looking at the SPY 13Oct23-29Sep23 long put time value spread priced at 1.87. If the market moves up you can adjust unless there is a big spike up at the opening bell. COST releases earnings after the close this Tuesday. MU releases after the close on Wednesday. NKE releases after the close on Thursday with CCL releasing before the opening on Friday.