One Option Trading Blog http://ift.tt/1nJciwJ Posted 9:30 AM ET - The market is extremely volatile and much of that can be attributed to currency fluctuations. Stocks were poised for a nice open Wednesday and the bottom fell out in the first hour. The SPY broke technical support at $187.50 with ease and it looked like we might hit an air pocket. Later in the day, buyers stepped in and we witnessed a massive short covering rally that almost pushed us above $191.50. We can expect more of the same volatility today. Option premiums are rich and I favor selling out of the money bullish put spreads …
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