Benzinga Weekly Options Outlook for the Week of May 20

Options overview this week is pretty much the same as the previously mentioned video. We're still in melt-up status with many of these single names. S&P 500 SPY has been hitting all time highs pretty much every day, causing a bit of heartache for the shorts. Any short opportunity is short lived, recommendations are to short via Market Vectors Intermediate Muni Index ITM weekly options for scalps. Otherwise, long calls have been working just fine. Something interesting to note is that, although we've been sitting at record low volatility as the SPY keeps going up, volatility is actually rising during the day. This makes it relatively a pain to short OTM options during the week. Idea here is to be more focused on expiry writing, instead of vol writing. This action continues to be great for dip buyers and breakout players on vanilla long calls.