Larry McMillan

Larry McMillan

Professional trader Lawrence G. McMillan is perhaps best known as the author of Options As a Strategic Investment, the best-selling work on stock and index options strategies, which has sold over 300,000 copies. An active trader of his own account, he also manages option-oriented accounts for certain individuals. In a research capacity, he edits and contributes to his firm’s publications: Daily Volume Alerts, The Option Strategist and The Daily Strategist – derivative products newsletters covering equity, index, and futures options. Finally, he speaks on option strategies at many seminars and colloquia in the United States, Canada, and Europe. He is often seen on CNBC and Bloomberg TV and is quoted in publications such as The Wall Street Journal, Barron’s, Technical Analysis of Stocks and Commodities, Data Broadcasting’s “Exchange” magazine, Futures Magazine, theStreet.com, Active Trader Magazine and many others. In 2011, Mr. McMillan received the prestigious Sullivan Award in recognition on behalf of his outstanding contributions to the growth and integrity of the U.S. options markets.

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Weekly Market Commentary 3.21.14

The market action in the last 10 days has been a complete whipsaw. Now, the chart of the Standard & Poors 500 Index ($SPX) shows the index to be in a trading range — bounded by resistance at 1880+ (the all-time highs) and support at 1840 (last Friday’s lows). Equity-only put-call ratios remain on sell [...]

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Weekly Market Commentary 3.7.14

This week’s action makes the $SPX chart bullish (how could it be anything else when trading at new all-time highs?). There is no technical resistance for a chart at new all-time highs. There is support at 1850 (which had been resistance), then at 1825- 1835 below that.  It is our opinion that a close below [...]

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Weekly Market Commentary 2.28.14

The broad market, as measured by the Standard & Poor’s 500 Index ($SPX) has finally managed to close at a new all-time high.   A second day closing above 1850 would solidify the breakout and give it more credence. Equity-only put-call ratios have finally rolled over to buy signals. Market breadth has been strong all month. [...]

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Weekly Market Commentary 2.21.14

The stock market rally that began on February 3rd continues to persist, almost daily.  The Standard & Poors 500 Index ($SPX) has only had two down days in that time.  Even so, there is some question as to whether it has the strength to overcome what is stubborn resistance at 1850. Equity-only put-call ratios gave [...]

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Weekly Market Commentary 2.7.14

The stock market finally halted its straight-down tailspin. A strong rally generated some oversold buy signals which could carry the market back towards its declining 20-day moving average. The $SPX chart is negative, in a pattern of lower highs and lower lows, and that is what makes it bearish. Equity-only put-call ratios remains negative. Thursday’s [...]