The market volatility continues to make writing options a risky business.
The Dow is exhibiting unreasonable volatility in the form of triple digit swings that moves us 200-300 points nearly every day. Attempting to write options in this environment would be suicide. Our time will come but we must be patient and wait for it.
I apologize for not writing an update last week but a Sunday morning cardiac event kept me in the hospital all week. Since the market was bouncing around worse than my EKG there would not have been any plays and nothing was lost.
We are flat and waiting for a setup for the next round of plays. I don't see it for Monday. The futures have already been down -11 and have rebounded to only -3 but the recent volatility has come during the regular session.
Please be patient. It is one of the hardest things traders have to conquer but it is worth the effort.