Good morning and Happy Friday! I hope you all have had a phenomenal week and are excited about the significant amount of volatility and momentum in the markets. There will be many opportunities to trade today, but please be extremely careful when actively allocating, as we are at an indecisive point in the markets that will result in both chop and general market fakeouts. I am expecting many traders today to get impacted by this chop as well as will emotionally trade in an attempt to make up losses.
Two recommendations I would have today are looking into selling 0-DTE CSPs on organizations you like and looking into purchasing puts as a hedge on your portfolio. You will not be able to collect too much premium from those 0-DTEs, but money is money. At the same time, Vix is extremely low at the moment, so purchasing puts as a hedge will be exponentially cheaper. I am excited about a massive vix expansion in the near future, so just be on the lookout!
Economic News from this morning:
US Consumer Spending MoM Actual -0.2% (Forecast -0.1%, Previous 0.1%)
US PCE Price Index YoY Actual 5% (Forecast 5%, Previous 5.5%)
US Core PCE Price Index YoY Actual 4.4% (Forecast 4.4%, Previous 4.7%)
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