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Just an Idea on the Market


Looking at the daily and intraday charts with narrowing overlapping ranges in a somewhat narrow range for over a month ... compared to the swings during the few months prior ... I'm thinking potential straddle or strangle on Thursday ... as long as price doesn't do anything to spike out of the range overnight.

Any thoughts from others?

Could also provide a decent legging out scenario. Have the (un)employment report on Friday along with all the B.S. from the political convention stuff working. Just tossing an idea out there for conversation since I'm gonna most likely be putting something on tomorrow.
and what do each of you see (both straddle and strangle) for strike prices ... for SPY and also the same on the futures contracts

BTW, GO COWBOYS!!!!!
never mind ... waited 1 day too late with the big spike this morning ... at least the COWBOYS won