Options – week of Feb. 29, 2016

Last week

Week endingOpenHighLowClose
Feb, 19, 20161865.251933.501865.001914.5
Feb, 26 20161911.001968.751886.751941.25

Commentary for last week

SP500 index had a continuation high move last week. It touches resistance at 1950 on Thursday and Friday. It wasn’t able to close above 1950 on Friday’s closing and gave out a candle reversal even though it had a net gain for the week.

Last week’s trades

160226-ES-60

Option trades. ESH6 Feb. 26, 2016. 60-minute bars

The market made one attempt to drop through the 1890 support area in the middle of the week but quickly rallied to make a higher high, and closed with a modest gain for the week.

Our Put trade entry points were never hit and we had no trades on the Put side.

For the Calls, our trigger price — which partially coincided with Nat’s meanline — was hit early and again later in the week. We managed to sell Calls with  strike price at 1985 at a modest premium.

The Calls expired OTM and we kept the entire premium.

This week

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