So far this for the month of July look pretty normal. I’m still holding the long NBR Calls with the assumptions that NBR should get a nice pop here short term. If that doesn’t happen I will close for a loss. The Russell and S&P trades are looking nice and profitable today and the MSH position looks like it will continue to hold up. Currently we are sitting on a 20 point MSH cushion.
The Fed begins its two day meeting tomorrow and the results from that meeting will move the market. The only question in my mind is which way will it move the market. A lot of that depends solely on the outlook from the meeting. If the fed is very hawkish then I think we run a real risk of moving down in a big way, however dovish comments from the fed may result in a substantial bounce.
Right now movements in either direction seem to be within the range that our current trades and absorb. I will continue to monitor the situation and make adjustments as needed. Enjoy your week!
Categories: Options Trading
No Responses to “position updates and the fed meeting”