US announcements

During the day on Friday, we get several US announcements, so this will put more focus on US assets as well as the US dollar during the day in our opinion.

WTI Crude Oil

The WTI Crude Oil market did very little during the day on Thursday, but having said that we feel it’s only a matter of time before the markets will try to rally off of the $30 handle, offering a nice put buying opportunity. The $34 level above is the beginning of significant resistance, but quite frankly any time we get a resistive candle between here and there we are willing to start buying puts. On the other hand, a move below the $30 level would be a put buying opportunity as well.

USD/CAD continues to strengthen

The USD/CAD pair rose during the course of the day on Thursday, as we continue to see quite a bit of strength in this market. Quite frankly, this is a market that is very straightforward, and as a result we are buying calls every time this market pulls back. The oil markets or falling apart, and that of course will continue to punish the Canadian dollar.

S&P 500 falls yet again

The S&P 500 initially tried to rally during the day on Thursday, but struggled above the 1900 level. That being the case, we turned back around form a bit of a negative candle and as a result it appears that the market is going to continue to offer put buying opportunities every time we rally. We have no interest whatsoever in buying calls at this point in time.