Novice Trade: SPDR S&P 500 ETF

We are officially off to the races after Federal Reserve Chair Janet Yellen put to bed all of the commentary from the peanut gallery of non-voting Fed governors. I think stocks are poised to make a nice move higher from here, potentially a run at 2100 again for the S&P 500.

I like buying SPDR S&P 500 ETF (SPY) calls on the cheap into Friday's non-farm payroll announcement as I think the market is going to move higher at least over the next two days. I can buy calls in SPY that are at-the-money (ATM) expiring on Friday for about $0.89 or so. That is about one-half of the move the market is making today....32 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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