The oversold markets and market internals suggested that a tradable bounce was imminent.
But we don’t enter them until we get a bullish price pattern to support swing longs or income trades for calling a short-term bottom. That came today!
Once we get a bullish reversal in SPY, sell overpriced put spreads on stocks and index ETFs – plus sell overpriced call spreads on Volatility ETFs.
This video shows you the market internals Master Trader uses for market timing, plus the exact steps of what to look for before selling these high-probability put spreads with the charts.
We generate weekly income from selling options and credit spreads, profiting from rapid time decay for merely calling a top or bottom on a stock or ETF for days!
And doing it in high volatility environments like now are preferred since we get paid more for taking risk with high fear.
Weekly options expire every week – most of them worthless — and that makes them a great instrument for weekly income.
As options sellers, we take the buyers’ money and get “Paid” by simply making a prediction of where the Stock will NOT go in a few days. For the educated trader, winning trades are systematic; for the uneducated, they are awaiting to empty your pockets.
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All the best,
Chief Options Strategist
Managing Director of Master Trader
Trading the Pristine Method — Origin and End
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