Market Action For Last Week
- S&P 500 ETF (SPY)
- Last Friday's Closing Price: $599.14
- This Friday's Closing Price: $597.00
- Point Gain/Loss: -2.14
- Percent Gain/Loss: -0.36%
- Nasdaq-100 ETF (QQQ)
- Last Friday's Closing Price: $529.92
- This Friday's Closing Price: $526.96
- Point Gain/Loss: -2.96
- Percent Gain/Loss: -0.56%
- Russell 2000 ETF (IWM)
- Last Friday's Closing Price: $211.90
- This Friday's Closing Price: $208.89
- Point Gain/Loss: -3.01
- Percent Gain/Loss: -1.42%
Upcoming Major Economic Reports and Potential Market Moving Events
- Monday, June 16
- No major economic events scheduled.
- Tuesday, June 17
- No major economic events scheduled.
- Wednesday, June 18
- FOMC Economic Projections at 18:00
- Fed Press Conference at 18:30
- Thursday, June 19
- No major economic events scheduled.
- Friday, June 20
- No major economic events scheduled.
Upcoming Major Stock Earnings Reports
- Monday, June 16
- Lennar Corporation (LEN) - Post Market
- Tuesday, June 17
- Jabil Inc. (JBL) - Post Market
- Wednesday, June 18
- Kroger Co. (KR) - Before Market Open
- KB Home (KBH) - Post Market
- Korn Ferry (KFY) - Post Market
- GMS Inc. (GMS) - Post Market
- Thursday, June 19
- Carnival Corporation (CCL) - Post Market
- Friday, June 20
- Accenture (ACN) - Post Market
- Darden Restaurants (DRI) - Post Market
- CarMax (KMX) - Time Not Specified
Market Outlook and Options Trade Idea
The market outlook for the next 30 days is neutral. The market is trading near fair value with limited margin of safety, and while earnings growth is expected, rising interest rates could limit upside potential. Anticipated volatility due to upcoming economic events and fiscal policy developments also contributes to a cautious stance.
Options Trade Idea: Given the current market conditions with elevated volatility and uncertainty around Fed policy, consider an Iron Condor strategy on IWM (Russell 2000 ETF). IWM offers rich option premiums due to higher implied volatility compared to SPY or QQQ, making it ideal for premium selling strategies. The diversification across 2,000 small-cap stocks reduces single-stock risk while the mean-reverting nature of small-caps supports defined-risk strategies. Consider selling an iron condor with strikes approximately 5-7% out-of-the-money on both sides, targeting the 30-45 day expiration cycle to capture time decay while the market trades in an expected range.