Options Trading Newsletter - Issue #159 - Tunnels of life... [Options Today - Trade Updates]
Tunnels of Life...
Tunnels of life…
While taking some days off work, I embarked on a journey of exploration and reflection, traversing through the mountains via tunnels of varying lengths and designs. Each tunnel, with its unique characteristics, offered a silent narrative of the passage through life itself. The longest tunnel stretched for 11 kilometers, enveloping me in its vast embrace, while the shorter ones, some less than 100 meters, provided swift passages. These physical journeys through tunnels became a metaphor for the emotional and spiritual journeys we undertake in life.
Much like the tunnels I explored, life's journeys are marked by their own lengths and challenges. Some experiences, akin to long tunnels, test our endurance and resolve, while shorter journeys offer quick lessons and rewards. This comparison to life's path became most evident in the silent promise of each tunnel: the assurance of light at the end, heralding new vistas beyond. It's a profound reminder that, in life's endeavors—be it projects, tasks, or challenges—we ought to press forward, anticipating the fulfillment and achievements awaiting us at journey's end.
A particular sign outside one tunnel caught my eye—a stern warning against overtaking, with the assurance that the police would be waiting on the other side. This sign spoke to me not just as a traffic regulation but as a life lesson. It served as a metaphor for the vigilance and adherence to rules required on our life's journey. Whether navigating through personal endeavors or professional pursuits like trading, the importance of following a set of principles cannot be overstressed. Much like the assured exit from a tunnel, steadfast progression in life, guided by rules and ethics, guarantees emergence into the light of success.
This journey through tunnels, both literal and metaphorical, brings to light the essence of perseverance and integrity. The rules we encounter—symbolized by the traffic sign within the tunnel—remind us of the boundaries within which we must operate to achieve our goals safely and honorably. In trading, as in life, bending these rules can lead to dire consequences. The tunnels teach us the value of progress within the confines of discipline and order.
As I reflect on the tunnels traversed and the lessons gleaned, the analogy of life as a series of tunnels becomes ever more poignant. Each tunnel, with its length, darkness, and the light at its end, mirrors the varied experiences of our lives. The journey through them, governed by unspoken rules and the promise of emerging into the light, shapes our existence, enriching it with depth, understanding, and appreciation for the journey itself.
In embracing the tunnels of our lives, we learn the importance of persistence, the value of adherence to principles, and the beauty of the light at the end of each passage. As we navigate these tunnels, let us carry forward the lessons they impart, ensuring that we emerge, time and again, into the brightness of new beginnings and the rewards that await us there.
“We must accept finite disappointment, but never lose infinite hope.” - Martin Luther King Jr
SPX (5254)
SPX added another 20 points into the Easter holidays. Nevertheless, as we said last week the momentum of rise has been declining. We see certain stocks hit its all time high and could not break further up and hovering at range below. Below are few examples.
Overall market wise, we see more declines than advances. These were in contrast the other way some weeks earlier.
Sector wise, we see that energy, utilities and commodities have been strong for the past month. Coming down to the week, it is holding at top 3 sector performance. Gold has went up 9% for the past month, which a possibility of the first rate cut happening in the near future could not have resulted in such a high rise and more likely rotation of assets into safe holding defensive assets.
This Friday is Non Farm Payroll and Unemployment rate, an indicator closely watch on economic health and data which the Fed uses on its policy.
Trading range for the week is 5200 to 5300.
NDX (18254)
NDX is still facing some resistance for the moment to break new highs. The key NDX components has also reached similar situations as they too can’t break higher for now.
AAPL, has seen worst performance among its peers as it has declined 11% for the first quarter while its broader Nasdaq has gone up around 9% during this time.
The declining stocks also outweighs the advancing for now. We will continue to monitor these indicators for signs of market corrections.
Trading range for the week is between 18150 to 18450.
HANG SENG INDEX (16541)
HSI hit support at 16400 level last week and inched up closing at 16541. It did managed to go above 16700 during the week but as usual could not sustain for long. We see high probability it could breach back above 17000 levels soon.
As said last week, any dips for HSI could be possible entry and last week 16400 is one great entry level. We continue to see opportunity for HSI to move higher and continue to trade the daily channel up.
The next level would be 17200 with support moving slightly up to 16600 now.
OPTIONS TODAY - LONG JAPANESE YEN FUTURES
The June Yen futures continue to be weak trading close to our lower target at 0.000065. As we still have a lot of time, we will continue to hold the trade watching closely that it does not break down below 0.000065.
OPTIONS TODAY
We are holding on to current positions, keeping lower trade counts for time being. We will continue to monitor any possible trades so we can share the learning experience with you. In meantime, we are just updating status of our previous trade entered.
OPTIONS TODAY - STATUS UPDATE - BEAR CALL SPREAD ON SPY
SPY closed slightly up at $423 last week. As said, we just need a big downday to take profits on the trade.
OPTIONS TODAY - TRADE STATUS ON BA RATIO SPREAD
BA closed higher last week at $192.99. The trade is healthy as we need time for it to mature and we are safe as long as $185 holds. There is no upside risk on the trade and our max profit is when it is at $180 on expiry. Nevertheless, the last weeks are the weeks with highest volatility on the profit movement against price movements and we need to be nimble to monitor the positions and close if the trends reverses down.
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TRADERS TALK
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