Last week the Dow Jones was up 4 out of the 5 days of trading. Netflex reported earnings and the stock dropped, so on Tuesday I decided to do a bull put spread on it. I made just a little over $400.00 on just 4 days. I am finally learning how to trade debit spreads on weekly options.
I just want to grow my account slowly so that I will have a nice egg nest by the time I retire.
This next week will be about one thing and that is Jobs Jobs and Jobs.
As earnings season enters its third week with more than 100 S&P 500 Index SPX +0.24% companies reporting — including Dow components Pfizer Inc. PFE +0.09% and Kraft Foods Inc. KFT +1.03% on Tuesday and Thursday, respectively — polled analysts and managers are turning their attention away from the corporate reports in favor of hard data, which they hope will provide a clearer view of the economy.
News that you will want to pay attention to is on Wednesday the ADP will report. Weekly Jobless claim on Thursday and April nonfarm-payrolls report and unemployment figures on Friday.
Lots of news to look forward to and always watch your charts they will be telling you when to get in or out of your trades. I will be looking in getting into another debit trade.
Happy Trading!
