It was another volatile week with a tight trading range. AAPL had $40-$50 swings 3 times during one week trading, up-and-down quickly between $570 and $620. We traded on both sides with mixed results, but, had two triple-digit gainers: FFIV calls and PCLN puts, for +122% and +121% profit, respectively. Here are the closed trades for the week:
The market has been stuck in a range for 2 weeks now, and could either break down or break out next week. Earnings are heating up and could help finally determine a direction for the market. Commodity stocks are still weak and semiconductors took a big hit last week. We’ll have to take a much closer look tomorrow in my weekly Market Forecast.
We have been trading small in the volatile market. But, we may slow down our trades as well, if the market keeps trading in a tight range.
Good night and HappyTrading! ™