What happened today in the stock market?
Tuesday 7/12/2022

The Dow Jones, S&P, and Nasdaq markets all closed down again today. The entire day was spent with markets at parity with neither gains or losses. However, in the last hour of trading all 3 indices sold off. This is likely due to the fact that traders do not want to have any open positions prior to release of CPI number.

Market drivers

­The CPI numbers will be released on Wednesday, July 13 @ 8:30 AM EST. This number will be closely monitored by traders as it will impact on the Fed’s decision for raising interest rates.

­Earnings season is also starting this week kicking off with the financial sector.

­My trades for today

­Option –$AAPL (bullish trade)| buy vertical for 150/155 calls for $2.15 debit Expiring 8/12/2022

­Option -$DIA (bullish trade)|sell vertical 292/290 puts for $17 premium. Expiring 7/29/2022

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