Last week
Week ending | Open | High | Low | Close | Volume (million) |
---|---|---|---|---|---|
Oct. 7, 2016 | 2158.75 | 2164.00 | 2136.00 | 2146.50 | 8.1 |
Oct. 14, 2016 | 2152.00 | 2163.50 | 2107.75 | 2126.50 | 11.0 |
The SP 500 index broke down its daily triangle pattern and dropped near September’s low area on Thursday. But it managed to hold above September’s low and recovered half the loss on Friday. It still lost 20 points for the week.
Last week’s trades
A pretty good week for option traders. The price dropped sharply below Nat’s meanline (2155) early in the week, so there was lots of time premium in the prices for the Puts we were selling.
It dropped even further after a brief mid-week rally to inspire hope in the hearts of Short, and fear in the hearts of the Longs, turning both groups into willing buyers of Puts.
But by the close Friday the final price was far above our strike price (2100) and we kept the entire premium for everything. As planned.