Wednesday, April 22, 2009

So Far So Good...

The scenario we played out yesterday is still intact. We've retraced back up to the trendline, now we just need to see the plunge. If this action plays out, then we'll have a head & shoulder pattern on the 60 min chart to further confirm a short term top in the market.
Breaking above 875 would obviously negate this outlook, so if the market rally carries us that high... all bets are off. Mondays downdraft will turn out to be just another shallow retracement in this uptrend, and yet another dissappointment for the bewildered bears.


KrengelFamily said...

One more quick question. In regards to portfolio management, what is the best way to "manage/track" your delta on a day to day basis? For example, if I am trying to maintain a delta neutral, Theta postive portfolio, is there an easy way to daily track the changes in my overall delta in order to make adjustments?

Tyler Craig said...


Most brokerage platforms have a section that lists each one of your option positions and their corresponding Greeks. so if I've got multiple positions on the SPY, I can see the greeks of each individual SPY position, as well as the aggregate of all of them combined. I'm not familiar with every broker out there, but I do know IB, TOS, and OptionsXpress all have the Greeks feature.