It was another profitable week for us at SPX Option Trader! We only traded 2 days this week due to market conditions. We ended this past week with +31% ROI in our SPX weekly option trading, +35% ROI in our SPY weekly option trading, and +50% ROM in our SPX Spread Trader. We ended the month of April with -13% ROI in our SPX weekly option trading, -10% ROI in our SPY weekly option trading, and -24% ROM in our SPX Spread Trader. This past month was a slower month as we had nearly 2 full weeks of no trade days due to market conditions. We will not force a trade when market conditions are less than optimal for trading weekly options. Our forecasts for direction continue to be reliable and we look forward to having more consistent trading days ahead of us, especially with the recent changes to the SPX Weekly option market.
Starting this week, we have access to Tuesday expiration for SPX weekly options and on May 19th we will have Thursday expiration. The CBOE just made this available to traders! This is exciting news as we will be able to trade our SPX Spread Trader 5 days a week by the middle of May. This also means we will have higher potential returns in our SPX Daily Option Trader on Tuesdays and Thursdays. Trading on expiration day always provides a potential higher return, and so this is great news for us. SPY weekly options do not have these new expiration days yet. We will adjust our trades on Tuesdays beginning this next week and look forward to what this will mean to our trading.
You may have noticed a change to the format of our SPX Daily Outlook and SPX Spread Trader. We’ve streamlined the information provided each day to focus on the essential information. We now refer subscribers to the Trading Guidelines page for further information on how we trade each day. We have also added the option on our website to view both SPX Spread Trader and SPX Daily Outlook at the same time or view each service individually. This way you can control what you see on your screen each day. We hope you find these changes helpful, if you have any questions or comments, please let us know.
Below are our comments for each trading day of this week:
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