This one is for the record books! The volatility rubberband was stretched to its zenith today. Talk about ranges...the Dow had more than a 1000 point range, while the SPX 500 traded outside of 100 points. After yesterday's slaughter and overseas drops, the markets fell sharply from the start and sank below 8000 in the Dow for the first time in years. Historic times, to be sure! Breadth was nasty as volume killed. To be sure, prices have reached unconscionable levels. Bargains? Perhaps, but it's best to wait for an uptrend to occur. Earnings come out in earnest next week and with the extraordinarily high volatility, should make things interesting! Gold was pasted as was oil and other commodities, bonds even fell as there was no safehaven.
One trade closed for Bagger and his friends today: (also, a recap of those closed earlier this week)
11:30 | Bagger Vance KSS ($10.00) Sold to Close KSSWH Nov 40 put, at $10.00 +113%
08:32 | Bagger Vance IWM ($55.00) Sold to Close IWTVF Oct 58 put, at $3.60 +58%
08:31 | Bagger Vance RL ($52.00) Sold to Close RLWK Nov 55 put, at $7.00 +75%
08:29 | Bagger Vance DIA ($94.00) Sold to Close DAVVR Oct 97 put, at $5.20 +86%
08:28 | Bagger Vance AMZN ($60.00) Sold to Close ZQNVL Oct 60 put, at $4.50 +55%
08:27 | Bagger Vance STT ($41.25) Sold to Close STTVH Oct 40 put, at $4.80 +9%
08:22 | Bagger Vance UBS ($3.50) Sold to Close UBSSW Nov 18 put, at $3.50 +9%
08:21 | Bagger Vance BAC ($21.00) Sold to Close BACVE Oct 25 put, at $4.00 +95%
Time to rest, reset and get ready for a busy expiration week!
Hit 'em straight!
Bagger
May never see anything like this moment in our lifetime...REMEMBER IT!
