Automakers Seeing Some Volatility
And ... August inflation report and The tastylive NYC Master class
- On Sept. 9, Tom Sosnoff and Jermal Chandler delivered an intense two-hour event covering eight strategic investment topics.
- This week's August CPI may show that economic fears have turned from inflationary to recessionary.
- The potential United Auto Workers strike could lead to some volatility and movement in auto manufacturers.
There is no city on earth with the electricity and the buzz that New York city offers. The boroughs, the pizza, Times Square, Lady Liberty—the Big Apple has it all.
There was even an extra special energy in the city last week with so many big events occurring. New York Fashion Week was apparent all over the city with several models taking alfresco photographs. There also were lots of sports as the NFL kicked off and The U.S. Open concluded with Coco Gauff and Novak Djokovic taking home the top prizes. Spoiler alert: I was rooting for both players.
Another incredible event occurring in New York last week was the third installment of the collaborative effort between tastylive and Cboe Global Markets. Tom Sosnoff and I performed at The Racket NYC to deliver The Master Class for the Unlucky Investor to a sold-out crowd. The content for this educational event is nothing short of difficult to digest. It was purposefully created that way. Many in the crowd might have left with more questions than they arrived with, but I believe that's a good thing.
The Master Class attempts to arm the listener with all the background behind why options are so powerful. If you come to the next one in Los Angeles, you will see what I mean. Often, new traders are trying to figure out how they can turn their idea into a trade. However, it never occurs to them that they could have the right idea and the right trade but can still be wrong. That's the beauty of the event. Keep that in mind the next time you're looking to make a trade on Fed day.
Speaking of macro events, this week will provide a major one as Wednesday's August consumer price index report will is likely to show that after a summer of better news on inflation, consumer prices are back on the rise. Traders expect the Fed to stay on hold at next week's meeting and calculate a roughly 42% chance that the central bank will deliver a hike in November.
Finally, keep an eye on General Motors (GM), Ford (F) and Stellantis NV (STLA) as they are facing a contract deadline just before midnight on Sept. 14 for nearly 150,000 U.S. hourly workers. We are already seeing near-term volatility expectations rise and if things don't go as planned, we could witness a market-moving economic event.
Jermal Chandler, tastylive head of options strategy, has been in the market and trading for 20 years. He hosts Engineering the Trade, airing Monday, Tuesday, Thursday and Friday. @jermalchandler
For live daily programming, market news and commentary, visit tastylive or the YouTube channels tastylive (for options traders), and tastyliveTrending for stocks, futures, forex & macro.
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