Ahoy there Trader! ⚓️
It’s Phil…
Thanksgiving week is here, and the markets are winding down for the holiday. With SPX stuck in its range, we made the most of it by banking a cheeky 0-DTE trade for some pre-turkey profits. Let’s dig into the details!
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Thanksgiving week brings slower markets, but that doesn’t mean the opportunities stop. Thursday’s market closure and Friday’s early & typically quiet trading mean theta decay becomes the hero for premium sellers.
Here’s what happened this week:
- SPX Stayed in Range: The established range held firm, offering predictable setups.
- Quick 0-DTE Trade: A range reversal of the range-high setup provided pre-holiday gains.
- Theta Decay Advantage: Income swings continue to profit as time does the heavy lifting.
The Bollinger Bandwidth is nearing a new “pinch point,” but interestingly, the potential new range aligns almost perfectly with the existing one. Common sense and discretion paid off once again, reinforcing why this strategy works so well.
For Friday, I’ll watch for movement to the lower boundary of the range, but unless something extraordinary happens, I’ll be enjoying the long weekend.
Fun Fact:
Did you know the stock market is statistically bullish the day after Thanksgiving? Historically, the S&P 500 tends to rise during the shortened post-Thanksgiving trading session, making it a favorite day for bullish traders.
Why? The optimism of the holiday season and lighter trading volumes often create a positive bias. So, enjoy your leftovers—and maybe a little market momentum!
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece