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During the session on Wednesday, we have employment numbers coming out of the United Kingdom as well as retail sales information coming out of the United States. Because of this, we could see a bit of volatility and as a result it should be interesting to watch the US dollar and the British pound in general. Speaking of which, we have seen a significant drop in the British pound as we touched the 1.52 level but eventually turned back around slightly. That being said, we still believe that the sellers will more than likely continue to push this market lower.

1 – Ultimately, we believe that the oil markets should continue to find buyers over the longer term. We believe that buying that market via calls will be the best way to go, and as a result we think there is plenty of buying opportunities for calls. However, we recognize that the market will probably be fairly choppy in general. Look to short-term moves.

2 – All things being equal, we believe that the stock markets in general should continue to attract buyers every time they didn't, as there is plenty of value to be found in both North America and Europe. We are waiting to see if we get call buying opportunities, which we believe will occur time and time again. We have no interest in buying puts as far stock market indices are concerned at the moment.