Traders will be looking forward to the yearend festivities but dreading the potential volatility at the close. With the quarter end pension fund rebalancing on Friday there is likely to be a sharp decline at the close. While nobody can guarantee any particular market event the odds are still very good.
There is no reason to add more positions because we are already heavily weighted to the downside. Take it easy and enjoy the weekend. Next week could be a roller coaster.
If you are just dying for something else to play, buy February calls on the $VIX. The $15 call is now $2.55 and a spike to the $20 level would be a decent payday. I am not recommending it because we already have five shorts in anticipation of a January decline.
NEW DIRECTIONAL CALL PLAYS
No New Bullish Plays
NEW DIRECTIONAL PUT PLAYS
No New Bearish Plays