Free Option Tools


Market Commentary

By Lawrence G. McMillan

For the second time this year, the stock market has suffered a severe decline in an unusually short period of time. Declines like this used to take weeks, and now they occur in a couple of days. Nearly every indicator is now in some sort of oversold state, but "oversold does not mean buy." One must wait for confirmed buy signals, and even then the early ones are often stopped out in a market like this.

Yesterday's (October 11th) low was in the general area of support at 2700-2710 for $SPX -- a level that provided good support in late May and again in late June. There should be resistance between 2760 and 2800. The equity-only put-call ratios remain...

Featured Products

Recorded Intensive Option Webinar:  Volatility Trading

A 4 hour seminar download detailing various volatility trading strategies

The main focus of this 4 hour seminar is not speculation, per se (although there will some discussion of it), but...

Options as a Strategic Investment: 5th Edition

Get your autographed copy of the revised edition of the best-selling book on options*

Probability Calculator Screenshot

Simulate the probability of making money in your stock or option position.

McMillan’s Probability Calculator is low-priced, easy-to-use software designed to estimate the probabilities...

The Option Strategist Newsletter

Analysis, Commentary, Education, and Specific Trading Recommendations on a weekly basis

In its 27th year of publication, The Option Strategist newsletter...

McMillan's Daily Volume Alerts

Daily option picks based on unusual option activity

Professional traders are well aware of the fact that an increase in a stock's option volume is often the precursor of a move by the...

McMillan's Daily Strategist

Connect with McMillan

Follow us on TwitterTwitter Like us on Facebook Facebook Weekly Updater Email

Sign up for The Weekly Updater to receive comprehensive stock market insight each Friday for free. Enter your email address below

Recent Blogs

Oct 15
By Lawrence G. McMillan

For the second time this year, the stock market has suffered a severe decline in an unusually short period of time...

Oct 5
By Lawrence G. McMillan

For the first time since late June, $SPX had a serious down day in hand, but the bears let some of it slip away as...

Sep 28
By Lawrence G. McMillan

This market is becoming truly divergent as the number of negative indicators and their strength is increasing, but...

Trading or investing whether on margin or otherwise carries a high level of risk, and may not be suitable for all persons. Leverage can work against you as well as for you. Before deciding to trade or invest you should carefully consider your investment objectives, level of experience, and ability to tolerate risk. The possibility exists that you could sustain a loss of some or all of your initial investment or even more than your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and investing, and seek advice from an independent financial advisor if you have any doubts. Past performance is not necessarily indicative of future results.
Visit the Disclosure & Policies page for full website disclosures.