written by reader Options Trade Idea for JOBS REPORT

By Matt Morris, April 5, 2018

This is what I shared with my subscribers….

(sent at 3 pm EDT Thursday April 5 2018)
Fed Traders,

For tomorrow morning’s jobs
report I have placed the following trade:

1) I bought April 13th GLD $126 calls & 125.50 puts strangle
at $1.36 for jobs report, used a market order.

2) I bought April 13th QQQ $161 calls & 160.50 puts at $4.66 , used
a market order as well.

*NOTE: I did not buy a SPY strangle because they did not have
the right strikes available for next week’s expiration…ugh! But
QQQ should be an ok replacement.

I will update you during the first hour or so of trading tomorrow,
will likely sell losing leg and hold the winner for a few hours, and
maybe over the weekend.

*Also…if you are new understand that we have seen great success
with this strategy but please do not use more $ than you can afford
to lose, as always with any sort of trading.

Sleep tight! 🙂

-Matt

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

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Travis Johnson, Stock Gumshoe

So for the layman, it looks to me like this is essentially a bet that gold and the Nasdaq (mostly tech stocks) will move either up or down over the next week — gold by at least 1%, the QQQ by at least 3%. Is that a fair interpretation of your sentiment?

Jobs report seems to have been a little bit weak but not shocking on the headline numbers, wages up a little and labor force shrunk again. Trade chatter seems to be more of an impact this morning so far.

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jeremiahberndt
2 years ago

I appreciate these types of posts on trade strategy. I like trading options but have just been treading water or losing slightly since I started a few months ago. Thanks for your info

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khol999
khol999
2 years ago

Hey Matt,
Can you please provide an update on your option plays? Obviously, the QQQ puts (if you held on from yesterday) have paid off big today.

Please continue to post option plays! Thank You!

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