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BZB Trader

An hourly chart of the Lazy Man 5 illustrates the pervasive chop in SPY and the other LM components.  90 minutes before the close and some modest positive momentum is evident although the NYAD is only .72 and the DOW is -45.

Trade Alert noted this morning’s TLT option activity at 12,000 puts and 6646 calls with an August 80-85-90 put butterfly spread trading 1048 times….the implication being the buyer expects TLT to drop to $85 by August 20th. The debt ceiling situation continues to drive short term volatility amid hourly rumors updates.

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