Strengthening of the dollar began yesterday and continued today. This pulled all of the major market indexes back a bit, although some buyers appeared in the last few minutes to recover some of the losses. SPX closed down $10 at $1213 and RUT lost $11 to close at $726. Trading volume was generally up, but trading in the S&P 500 stocks was flat from yesterday and remains below the 50 dma. However, trading on the NYSE increased 22% and also increased 22% on NASDAQ.
My Nov condor continues its underwater journey with delta = -$24 and theta = +$80. I rolled the put spreads up on the Dec condor to better position its Greeks with delta = +$4 and theta = +$111.
Dollar's Strength Pulls Markets Back
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- Written by Dr. Duke
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