May 27, 2024, 8:00 AM | 2 min read
27% gain every 20 days?
This is what Nick Shine does on average with his options buying. Instead of selling covered calls or spreads, he buys options. Most traders don’t even win 27% of their options buying. He wins 83%. This is how he does it.
U.S. stock markets will be closed on Monday, May 27, 2024 in observance of Memorial Day.
Celebrated on the last Monday in May, Memorial Day commemorates the men and women who died in military service to the United States.
The holiday marks the unofficial start of summer and is a time of family gatherings, parades, and memorial ceremonies across the country. As it is a national holiday, major financial markets such as the New York Stock Exchange (NYSE) and NASDAQ, as well as the U.S. bond market, are closed to give market participants the day off.
Normal trading will resume on Tuesday, May 28, 2024.
US stock market holidays in 2024
Besides Memorial Day, other major holidays on which the U.S. stock market will be closed in 2024 include:
- Juneteenth Independence Day: Wednesday, June 19, 2024.
- independence day: Thursday, July 4, 2024. The market will close early on Wednesday, July 3, 2024 at 1:00 PM EST.
- labor day: Monday, September 2, 2024.
- Thanksgiving Day: Thursday, November 28th, 2024. The market will close early on Friday, November 29th, 2024 at 1:00 PM EST.
- Christmas: Wednesday, December 25, 2024. The market will close early on Tuesday, December 24, 2024 at 1:00 PM EST.
S&P 500 off to a promising start in 2024 and outlook for the future
The S&P 500 is SPDR S&P 500 ETF Trust (NYSE:SPY) has posted strong performance over the first 100 trading days of 2024, up 10.4% year-to-date.
Historically, when a stock index rises by 10% or more in the first 100 days, it tends to continue to perform well for the rest of the year, according to an analysis by Banc of America Securities.
This scenario occurred 76% of the time, with an average return of 7.1% and a median of 9.3%. Based on these statistics, it is predicted that the S&P 500 could reach 5640-5750 by the end of 2024.
In presidential election years, markets tend to show a unique pattern. Historically, the first 100 trading days of such years have been weak, with an average return of -0.9%. However, 2024 bucked this trend, posting a 10.4% gain, the second-best start to an election year since 1928.
When the S&P 500 rises during the first 100 days of an election year, it performs well for the remainder of the year 93% of the time, with an average return of 10.1%.
Read now: When will the Fed cut interest rates? On a ‘middle-of-the-road approach’: Goldman Sachs
Photo: Shutterstock
27% gain every 20 days?
This is what Nick Shine does on average with his options buying. Instead of selling covered calls or spreads, he buys options. Most traders don’t even win 27% of their options buying. He wins 83%. This is how he does it.
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