Buy to Open SPY December 16, 2016 210 Call Option up to $7

Buy to Open SPY December 16, 2016 210 Put Option up to $5

I am increasingly concerned about the markets as the election nears. As my recent put option trade for Mc Kesson (NYSE: MCK) proves, this market is on steroids. First, those companies are missing earnings in a big way and getting hammered furiously. And now, just in time for the weekend, the FBI announced that it is reopening the investigation against Mrs. Clinton over her e-mail problems. It’s clear that Wall Street is rooting for Mrs. Clinton and if the news of this heats up over the next few days, as it is very likely to, we can expect some serious volatility. As a result, I am recommending a straddle option strategy which will protect our portfolio if there is a major move, either up or down in this market. I will have more on Monday’s BTP weekly.