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Hello Traders,

Greetings!

Weekly options:

In the last few years the CME group added weekly options to a variety of markets. It started with the highly liquid mini SP 500 contract and then trickled down to other markets such as crude oil, gold, bonds, grains and currencies to name a few.

So what’s the big deal you may ask as there are many different futures contacts and options contracts listed on more than a few global exchanges?

From my point of view, the weekly options are a great tool for short term traders to have in their trading arsenal for two main reasons:

1. Ability to use these weekly options as a way to speculate on the direction of the markets without the need to use stops.
2. The weekly options offer the short term traders who use futures an alternative to placing stops by using the options as protection/insurance.

If you ever day-traded futures or traded futures for short term duration ranging from hours to days you know that trading without a stop is detrimental for your physical and financial well being…yet that being said many of us got stopped out to see the market coming right back to where we thought and wanted it to move towards…. Read the rest of this entry »