Early Rally Is An Easy Short - Speedbump Ahead - Sell Calls and Buy Puts

One Option Trading Blog http://ift.tt/222KhiO 1 WEEK FREE TRIAL - SEE US MAKE MONEY IN THE CHAT ROOM Posted 9:30 AM ET - Yesterday the market chopped around most of the day and it tried to recover from early losses. An hour before the close we saw steady selling and the SPY closed on its low of the day. It is below major horizontal resistance and the 100-day moving average. I believe we are set up for a pullback. Much of the rally during the last two weeks can be attributed to short covering in commodity stocks. Consequently, emerging markets have …