Markets Advance As Options Ex Whips Continue
This has been a classic options expiration week. Options expiration is known for whipping up and down, taking money from call and put holders. After weeks of a market that just floated higher, this week saw major up and down moves. Even the epic stock Apple Inc. (NASDAQ:AAPL) has seen a massive rise and fall this week.
After a mega reversal yesterday, the markets are moving higher once again. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $135.48, +0.94 (+0.70%). Investors got some positive economic news this morning in the United States and Europe continues to hold up well. Light volume buyers are lifting the markets towards their double top highs from yesterday.
The master cycle date has not arrived. This is why the markets have not dumped out in a major way. Sure, down days will occur here and there but the multiple big drops will wait until the InTheMoneyStocks cycle date arrives. Even without the cycle date, there is still money to be made. InTheMoneyStocks members were alerted to short Apple yesterday at $514.26. Today, they covered the first half at $489.26 for a $25.00 profit. They will hold the second half with a break even stop. Another profitable trade based on master calculations and levels.