Stockchase Opinions

Richard Croft S&P 500 Index SPX-I COMMENT Aug 21, 2019

He bought an option on the S&P at 3,275 to March 2020 at an average cost of $19. Hold till November? He bought an option on the S&P. Interesting--you can exercise them early. 3,275 is an aggressive target to March 2020, but it could happen. Sure, hang onto November. He doesn't expect much time-value erosion till then. Has potential, but you have challenges making that money. He's prefer taking options if he was going long; it's less risky.
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DON'T BUY
Could reach $1,050 or drop to $830. May take a rest at this point. Risk/reward is 6/7% upside or 15% drop.
TRADE
These options are European settled which means these options can't be excercised prior to maturity. This is the #1 option contract in the world.
BUY
A very cheap way to play the US market.
BUY
Despite it's assent is still very reasonable at the current price. He can't imagine a long term decline.
BUY

For those starting with ETFs, he recommends a fully diversified portfolio. SPX is based in New York and VTI is for the total global market.

DON'T BUY
technical analysis by Jessica Inskip re: volatility, strong job market and higher inflation

The post-election rally kept the S&P up, and Inskip was hoping it would remain above 5,850, a key level. It closed the week today at 5,827, crossing that support. Next level of support is 5,783. According to the Ichimoku Cloud, the S&P chart has turned negative, bearish. Inskip thinks we could roll back the entire post-election rally, taking us down to 5,783. The S&P broke below the 13-week average.