SPY the Open with Kevin Dixon

SPY the Open with Kevin Dixon
May 19, 2015 Market Traders Institute

Hey traders! Did you know our Options trading expert, Kevin Dixon has a weekly SPY the Open class to help you jumpstart your trading week?

Typically, the information in this class is only available to our Ultimate Options Course students, but we wanted to give you a sneak peek to help accelerate your trading confidence!

Check out what Kevin Dixon had to say to our students over the weekend.

Good morning traders and welcome to the new trading week!

Action has started off slow with a holiday in Canada, (Happy Victoria Day to all our friends up north) but the major indexes are in RALLY mode right now as we head towards the lunch hour at the NYSE. (DJIA + 21, NASD + 18 and the S&P 500 is + 4 at 11:39 AM EST).

We have a small list this week but a sound basket to begin tracking.

WEEKLY IDEAS (Options are a minimum of 180 days)

MRK: Prebuy at $60.70

This is a sound trend trading opportunity as the charts on Merck are solid. We also partner this with a great plan for money management!

OPTIONS Thoughts: $55 Long Call to Jan 2016 could match nicely with this plan. Solid OPEN INTEREST and a good DELTA in-the-money helps position ourselves well should this trade enter.

CERN: Presell at $66.91

Recent weakness in this industry has resulted in a few weeks of selling on Cerner Corps. We have a great plan for shorting this stock, but it is rallying today and may not enter this week. I do see the potential for the support break down.

OPTIONS Thoughts: $75 Long Put to Jan 2016 measure well with this entry.

DAILY IDEAS (Options Trade minimums are 90 Days Time)

XL:

[Section Removed – Proprietary Information for MTI Ultimate Options Course Students Only.]

LUV:

[Section Removed – Proprietary Information for MTI Ultimate Options Course Students Only.]

TIF:

[Section Removed – Proprietary Information for MTI Ultimate Options Course Students Only.]

REMEMBER: Do NOT ENTER the TRADE UNTIL OUR PRICE IS HIT to follow the Plan’s Guidance! Plan your trade and trade your plan!

As the SPY and QQQ are near all time highs, we set up for an interesting week!

Be sure to catch up with the ACTION!

Join us for our weekly workshops! By clicking here, or filling out the form below.

Don’t forget to connect with us online so we can talk trading and keep each other up-to-date on major market movers.

Have a great trading week everyone!

-Kevin

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