Market Range Bound Thru Feb Options Expiration - Sell OTM Option Spreads

One Option Trading Blog http://ift.tt/20q1K7s Posted 9:40 AM ET - Yesterday the market dropped below a minor support at SPY $191.50. All of the constructive price action we've seen in the last few days was wiped out. In order to reach SPY $200, we needed to make progress this week. The selling pressure tells me that we might not get through SPY $195. The market had all of the good news it needed to rally. The strongest companies posted good earnings and central banks (PBOC and BOJ) have been easing. Additionally, the FOMC statement was dovish and the Fed is not likely to raise rates before …