Buy Puts - Dark Clouds Are Rolling In - Use This Level As A Guide

One Option Trading Blog http://ift.tt/2vAlJmL Posted 9:20 AM ET - In the absence of other news the market will focus on North Korea's missile launch and the devastation in Houston. Stocks are poised to open lower and the SPY will breach a minor support level at $243.80. We've seen profit-taking in the last two weeks and this move could gain traction. The FOMC meeting in September will be on our doorstep when we return from Labor Day. The Fed wants to tighten. Soon after the FOMC statement, our nation will hit the debt ceiling. Politicians will play "chicken". They will threaten to shut down the government …