Trade Update – ALCOA Earnings come out tomorrow, Wed the 7th

Our recommended bottom RUT and SPY bull put spreads, per Sunday’s advisory, are no longer filling for the recommended credit prices since the market has rallied in the last two trading days.  Let’s wait to see how the market reacts to earnings from ALCOA Aluminum;  they release earnings tomorrow, Wednesday, officially kicking-off Q3 earnings season and analysts are expecting their earnings to be poor.   ALCOA is closely watched since they are one of the largest aluminum producers, being a raw material that is used in myriad products - so aluminum demand is a good leading indicator of the US economy.   If the market has a solid DOWN day tomorrow we might have the opportunity to open more of our bottom spreads and bring in more premium.