© Copyright 2025 eOption, a division of Regal Securities, Inc., Member
FINRA/
SIPC |
Important Disclosures
950 Milwaukee Ave., Ste. 102 | Glenview, IL 60025
The information on this web site is for discussion and information purposes only. All accounts accepted at the discretion of eOption which accepts customer orders only on an unsolicited basis, and does not make any recommendations regarding any security or securities product with the possible exception of orders executed by our full service bond desk. Nothing contained herein should be considered as an offer to buy or sell any security or securities product. Online trading has inherent risks due to loss of online services or delays from system performance, risk parameters, market conditions, and erroneous or unavailable market data.
FINRA BrokerCheck reports for Regal Securities and its investment professionals are available at www.finra.org/brokercheck.
Options Disclosure: Options involve risk and are not suitable for all investors. Prior to trading options, you must be approved for options trading and read the Characteristics and Risks of Standardized Options. A copy may also be requested via email at support@eoption.com or via mail to eOption, 950 Milwaukee Ave., Ste. 102, Glenview, IL 60025. Online trading has inherent risks due to loss of online services or delays from system performance, risk parameters, market conditions, and erroneous or unavailable market data.
eOption Commissions: Broker-assisted orders are an additional $15. Option strategies involve multiple purchases; therefore your transaction costs may be significant for option strategy trades. A commission rate of $2.00 for equities and $3.99 + $.10/contract for options, per execution, applies to orders entered and filled by eOption's Auto Trade Desk and does not apply to customers who enter their trades directly into the eOption platform and are not utilizing the Auto Trade desk.
Broker Comparison: The competitor rates from published websites were verified on 05/25/2023 and are believed to be accurate, but not guaranteed. Commissions are subject to change without notice. At some firms, commissions may not reflect broker-assisted fees, orders over 1,000 shares, penny stock trades, OTCBB, pink sheet stocks or foreign stock orders. Firms may offer reduced commissions if additional criteria are met.
Blog & Commentary: eOption is neither affiliated with, sponsored by, nor endorses commentary and the opinions expressed are solely their own. Content is provided for educational and informational purposes only and eOption cannot attest to its accuracy or completeness. No information provided has been endorsed by eOption.com and does not constitute a recommendation by eOption to buy or sell a particular investment. You are solely responsible for your own investment decisions, and eOption makes no investment recommendations and does not provide financial, tax or legal advice.
The Rally Has Stalled
www.oneoption.com
Since triple witching in September the market has not moved.
PRE-OPEN MARKET COMMENTS WEDNESDAY – During the last quarter, two rate cuts and earnings releases have produced a 2% gain. Since the beginning of the year, the market is up 14% and those are excellent returns. Forward P/Es are “rich” and buyers and sellers are paired off.
The market tested the 100-day MA and it flew off of it this week. That is the type of price action bulls want to see, but I would not read too much into it. The drop and bounce were program driven in my opinion and we are right back where we started. On a normal day, 60% of the activity can be attributed to algos.
Programs test buyer and seller conviction and the conclusion is that buyers are not quite as aggressive as they were and sellers are a little more aggressive than they have been in recent months. Both have been able to move price and we can see that in the mixed green and red candles.
We are heading into the Thanksgiving holiday and the market could go either way. Based on the movement we’ve seen in the last two days, we could have a decent range today. Know that this is program driven and stay flexible.
I don’t believe Durable Goods, initial claims or the Beige Book will move the needle much today.
Black Friday is an abbreviated market session. Trade desks will be lightly staffed and the volume should be light.
We’ve seen buyers and sellers move the market in the last few weeks and the SPY is sitting right at AVWAPQ. We are right in the middle of the range set by the all-time high and the 100-day MA. We could go either way. Reduce your trade size and count. This is a low probability environment and it will be hard to make money.
Spend time with your family and take a few days off. Forget the woes of the world and focus on what’s right in front of you. Life is grand!
Happy Thanksgiving!
Content is provided by OneOption, LLC, which has no affiliation with Regal Securities, Inc. (“Regal”) This commentary is provided for information purposes only, and is not a recommendation, offer or solicitation by Regal to buy or sell securities or to adopt any investment strategy. Regal has not participated in the creation of the OneOption content and does not directly or indirectly endorse the content. Any reliance on this material is at the sole discretion of the reader.