Hit overbought and rolled over this morning. Remember, Europe is in a recession.
For those wondering why I keep posting FDAX is because Europe determines the gap direction for the US because all futures move the same direction, unless there's region specific news.
For those wondering why I keep posting FDAX is because Europe determines the gap direction for the US because all futures move the same direction, unless there's region specific news.
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I play FDAX with BUD options of all things, it is a Belgian company. Every time FDAX goes down BUD gaps down.
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It's odd for the US indices to dump mid-day when the volume is the lowest, this looks like a pre-emptive dump because they knew the Euros are gonna sell.
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Since a couple of my followers asked, BUD options are not very liquid. When you deal with low liquidity, big spread, or high premiums, you only bet when you expect big movement. I'm holding as a gap play.
Looks like we're gonna get an EOD pump, so not sure I recommend opening a new position.
Looks like we're gonna get an EOD pump, so not sure I recommend opening a new position.
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Strange day, closed my puts because of the usual Friday afternoon pump