Davis Martin of DailyProfitMachine says that market action in the Standard & Poor’s 500 ETF (SPY) is frothy enough for day-traders and swing traders to find good set-ups in the options chain. He’s selling mostly put options, betting against the market going up, based on technical charts which show that favorite patterns like a head-and-shoulders where the SPY is bouncing off of resistance levels.


Davis Martin is the head trader at DailyProfitMachine.com. He trades SPY calls and puts and swing trades mid-large cap stocks and stock options. At the time this interview was taped and as it first aired, he was actively looking at SPY trades, mostly using put options as described here. The Raging Bull podcast features experts from the site talking with Raging Bull editor Chuck Jaffe on his show, “Money Life with Chuck Jaffe.” You can learn more about Chuck’s daily hour of market and personal-finance chat at MoneyLifeShow.com; you can subscribe to the Raging Bull podcast via iTunes and other podcast providers.


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