Have You Heard About Weekly Options? 8.17.2016
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Wednesday August 17, 2016
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:
- Ability to use these weekly options as a way to speculate on the direction of the markets without the need to use stops.
- 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….
In the next few days we will post a new article about this topic written by my colleague John Thorpe, in between feel free to contact us with ANY questions about trading futures in general and weekly options in specific.
On a different topic, two market moving reports tomorrow, Crude Oil inventories and FOMC minutes so be aware and ready.
Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
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Levels for Trade Date of 8.17.2016
|Contract Sept. 2016||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||Dec. Gold||Sept. Silver||Sept. Crude Oil||Sept. Bonds||Sept. Euro|
|Resistance 3||1381.9||20.45||48.48||173 17/32||1.1502|
|Resistance 2||1373.1||20.29||47.61||173 1/32||1.1420|
|Resistance 1||1362.4||20.05||47.09||172 3/32||1.1357|
|Support 1||1342.9||19.64||45.70||170 21/32||1.1211|
|Support 2||1334.1||19.48||44.83||170 5/32||1.1129|
|Support 3||1323.4||19.24||44.31||169 7/32||1.1066|
|Contract||Dec. Corn||Sept. Wheat||Nov. Beans||Dec. SoyMeal||Sept. Nat Gas|
Average Earnings Index 3m/y
Claimant Count Change
Crude Oil Inventories
FOMC Member Bullard Speaks
FOMC Meeting Minutes