WRITING TRADED OPTIONS for income

badtime, there's such a skew on the volatility that I couldn't resist. The Sept550C has a vol of 36.7 while the 600C is 27 - just couldn't resist. The monthly chart is in a downtrend and the pattern shows that it's likely to fall to around 350 by the end of 2004 (if the downtrend continues). The third wave in a 5 wave pattern. The daily chart is trading around the 540 support and if it breaks that going down it's likely to end up around 500. The US election might push it up and 580 looks a possibility. We'll see in the New Year.

As u can gather I'm a chartist through and through.

Best of luck in the coming year.

Lex