Posted in Daily Report
By: Tom Gentile on August 30th, 2022 • 1 min read
The prospects of a bounce of any kind following last Friday’s sell off is nowhere to be found as the financial markets sold off for a third day in a row (Friday is included in those three days).
The S&P 500 fell 1%. The Nasdaq Composite lost 1.2%. Lastly, the Dow Jones Industrial Average traded down 0.8%.
Will there or won’t there be a bounce? It’s possible and likely going to happen, but likely not anytime soon. And if and when we do it may all end up being a part of a pattern on the charts showing lower lows and lower highs in price. THAT is a downtrend, and it is bearish.
To see what options activity is going on for both the Calls and Put side of things let’s look at the most recent Morning Reports lists:
Whichever way you anticipate the markets; for us we see the path of least resistance being to the downside, one can start with their selection process and discussion with their financial pro’s/brokers of what to trade with these lists:
App: Toms Option Tools
Market Insight articles may show images of lists of stocks meeting a variety of options parameters like Unusual Call and or Put activity or Expensive IV found on my app Toms Option Tools.
Other times I will have other charts may work to amplify my educational points.
Those options data lists, however, can be found on my app Tom’s Option Tools. Use your device to search up and download this app and get free access to the Morning Reports section of the app.
Other parts of the app are available at a premium subscription rate, but the Morning Reports Lists are yours free.