 Hey, everyone. Good morning. Lee Lowell here from smartoptionseller.com. Today is Saturday, September 10th, 2022. We're moving on. Welcome to another edition of our Saturday Synopsis. So what's a smart option seller and what's a Saturday Synopsis? The smart option seller, that's the website that we run, the newsletters that we run. We're all about option selling strategies, selling put options, selling put option credit spreads. I've been in the trading business for 30 years now, over 30 years now. And I've learned that option selling strategies is the way to go. So that's what we do with the smart option seller. The Saturday Synopsis is what you're watching right now. And why are you watching it? Because it's all about chart reading, all about figuring out where stocks are, where they're going or where they may be headed, why they're doing what they do. And so in order to be a more profitable options trader, you have to understand the underlying vehicle that you're trading those options are. And in this case, we're talking about stocks. So if you want to trade options, you have to know where the stocks might be going. In order to do that, you look at the charts and you figure out where a stock might be headed or some support resistance levels or check your technical indicators. So that's what I'm here to do. I'm here to show you what I've been doing over the last 30 years, how I look at charts, how I read how I read stock charts and give you some ideas on how to make your chart reading abilities better. So that's what we do here at the smart at the Saturday synopsis. We look at charts and we figure out where the market's going to go or where it's not going to go. And then we make our trades. That's how we do it in our newsletters. We figure out what's happening with stock prices, stock charts, and then we get into and out of our trade. So I'm here to show you a little bit of what I'm seeing on the charts, what's been happening in the markets, and we just go from there. So let's just jump right in. As we typically do, we always start by looking at the S&P 500 and we use the SPY, the SPY, which is the exchange traded fund for the S&P 500 trades just like a stock. So it's easy to get in and out of at will, you know, all day long, whatever you want to do. So it's a great barometer, great indicator of how the market is doing as a whole. What you're seeing in front of you is the charts that I look at. This is about a two-year time frame. I look at daily charts. So each one of these lines is one day's worth of trading. I look at the open, high, low, closed bars. These are not candlesticks. If you want to look at candlesticks, you could look at something like this. This is what it would look like. These are candlesticks. I don't use candlesticks. Just never really learned how to use them so much. I always stick with the daily, high, low, closed bars. And I look at daily charts because I like to get a longer-term view of the overall market. I play for myself for the long run. I know in the long run stocks go up. Let's look at a monthly chart. So monthly chart of the S&P 500, bottom left to top right, you want to see a stock going up, making this upwards movement over time. That's how you make money in the long run. This is a monthly chart. So each line is one month's worth of trading going back to the early 1990s. Here's the daily chart. This is what I focus on. And what you'll see on my chart, I've got a lot of lines and things marked up here. You can see these channels here. The channel is just one of the simplest ways to see which way price action is trending. In this case, the market was going up. I've got the blue channel and the prices move up and down in that channel. I've got a little channel back this way. I've got a lot of sideways action here. And then around January 1st, 2022, we've been in this downtrend. This has been a long, in-the-tooth bear market. I've got a lot of people frustrated. I get lots of emails from people telling me they can't take it anymore. They can't take seeing their portfolio values going down. Yeah, it's frustrating for sure. We're just so used to the market going up all the time. And we're so used to any pullbacks being very short of nature. And this one started in January and we're still dealing with it in September here. So it's been kind of hard to watch this grind lower. But we try to break it down into more digestible pieces because we do run newsletters here, so we have to make some trades. And so what we look for is times when it's better to get into a trade. We're shorter term in nature. We're probably one to four months out in time for our timeframe, our options trading expirations. We don't trade intraday. We're not daily traders. We're not swing traders. Our hold times a few months. So that gives the market a chance to make its move. And we don't get caught up in the daily fluctuations. Now, why has the market been going down so much over the last eight months or so? Well, we've had a lot of things going on here. The biggest thing in 2022 I think is the rising of interest rates and inflation around the world. And in order to combat inflation, central banks around the world, their biggest tool that they have is to raise interest rates. And that is supposed to cool down inflation. Now, the stock market typically does not like when interest rates goes up because people can sell their stocks and get into fixed income securities that pay a fixed amount. As we know, as interest rates go up, those payments on fixed income securities go up as well. If you start to invest in bonds and CDs and treasuries and other fixed income securities, you're going to get a better rate on your money. So people would like to put their money into those things and take it out of the stock market. At least in theory, that's the thinking. So that's why the stock market will go down. Also, as interest rates rise, taking out loans, borrowing money becomes more expensive because your interest payments become greater because interest rates are going up. And a lot of companies within the stock market have to borrow money at least at first when their company's starting out. So they have to borrow money. And if their costs are rising because their because their loans are costing them more, that means they're going to have slower growth and people might pull their money out of those kinds of stocks because they don't want to buy stocks that are going to have to pay more for their loans. So it's like this cycle that goes on. So the stock market doesn't really like that as an initial reaction. But over time, companies learn to adapt to that. And in the long run, as long as a company is still producing profits and making products that people buy and have increasing profits quarter after quarter, there's no other way for the stock price to go up. A stock price can't go down with a company that's producing profits quarter after quarter. So in the long run, the stocks should go up. Stock prices should go up because the stock market, the S&P 500 itself, is made up of mostly profitable companies. And so really, the stock prices have to go up in the long run. So let's take a look at what's been happening with the S&P 500. I have these channels here also on my charts. I got a couple squiggly lines here. Let's take a quick look. Here's a 200 day moving average right here. We have this blue one here is a 20 day. And this red one here is a 50 day moving average. Sometimes it's hard to see they get jumbled up. But those three moving averages, a 20 day, 50 day, 200 day, simple moving averages, those are the big ones. Those are the ones that most people follow. So when most people are following the same thing, the price movements tend to react the same way because everyone's following the same things. And down here, I use the RSI indicator. It's an overbought oversold indicator. It's a 14 day look back period swings up and down. My levels are the 80 level for overbought, 20 level down here for oversold. You can tweak those. You can put them at any level you want. And so what I do on the charts is I look for support and resistance levels. I look how the price action is when it comes in contact with one of the moving averages. What happens? And we draw these channels and other patterns to tell us which way a stock may or may not move in the future. And you're really looking for higher probability trades. That's all you're doing. You know, nothing's guaranteed. If you're going to trade for a living, nothing's guaranteed. No pattern works 100% of the time. What you're trying to do is just make more high probability trades, have your stop losses in, your profit targets in, and that's how you make money in the long run. So let's take a look at what's been happening. As I said, back in January, the market's sort of mostly been in this downtrend. You can see this channel right here that I drew. And we have an upwards channel here. And now we have this downtrending channel right here. You can kind of see the inverted V right here. Okay, that's where the market's at. And we have some support here and some resistance up here. And where we were this week, we had, we started the week down here, coming down a little, bounce on the support right around 390, 390 for the SPY and bounced, you know, this week to the top edge of the downtrending channel right here. So here's where the market finished yesterday, this bar right here. Okay. And we finished near the highs of the day, 460 on the SPY. We had the support right around 390. Why is 390 support at this point? You can see going back a few months, there was a lot of activity right around 390, had some support here. When it came back, went back up, came down, blasted through it. And so when it tried to come up again, it had some resistance at 390. You can see this area right here. Couldn't get through 390 at first. It took one, two, three times, finally blasted up, up, up, up, came in contact with the 200 day moving average right here and the top edge of this channel. So there was a lot of confluence right here that there would be some selling. Got to the top of the channel, you know, was moving up in the channel and hit the 200 day moving, the downsloping 200 day moving average, which is right here, this line. So that was a good place for some people to take profits and it pushed the market down. And then Jerome Powell, the US Federal Reserve Chair, said that the Fed is going to be pretty aggressive raising interest rates. They want to bring this inflation down and, you know, inflation is like eight and a half, 9% in the US. They want to bring it down to their target rate of 2%. That's a far way to go. So it's not going to happen overnight. So they're going to keep rates pretty high for a while until that inflation comes down. So it got knocked back down, knocked back down, got this new channel right here, this down trending channel, then found some support again right around 390, bounced right here, bounced up, getting along the top edge of the channel here. And so for next week, what we're thinking is we've got this 20 day moving average right here. You can see the blue line, okay, right here. This is the 20 day moving average went up now coming down. So here's the price action. Let me zoom in here a little bit. The next line in the sand probably is to touch the 20 day moving average, which is this blue line right here. And that's right around $410 a share. And so it'll pop a possibly pop above this channel, got the down trending channel, when it pop above that hit the 20 day moving average right here, that could be the first stop, 410. The next stop is going to be right around here, this resistance right around 417. Okay, so that's where the market could be going on the upside first to the 20 day moving average around 410. Next stop would be right around here 417 because that was the area of resistance prior over here, here. And so now again, 417, this line right here, 390 down here. So we're in this kind of channel right here. Okay, got the V. You can see the down trending channel. You got the 20 day moving average right here. You got the 50 day, 50 day moving average right here down below. So it kind of bounced, found some support around the 50 day as well. So the market's always moving. And what we're trying to do is just make highly educated, high probability guesses of where the market's going to go. So like I said, got the 20 day around 410, 20 day moving average, and then you got the 417. So that's where I'm looking for it to possibly go next week, keep the momentum from the end of this week, going into next week. Now on the downside, you always have to look at the downside as well. The downside could be if it gets rejected in this area between, you know, 406 to 410, it could come and fall back within the down trending channel, but hopefully find support at 390. Again, find support here. If it falls through 390, then you have to look back to where the rest of the price action was. And that was down in this area between 360, 365 or so, and, you know, 390. So if it falls back down, here's where it's going to find some support. It'll probably drop down into this area. And this leg right here, this last one, this line in the sand, the bottom edge here was right around 362 or so, this bar right here. So we can always draw a line of where the ultimate support could be if it starts to drop some more. So let's keep this on the chart for another week or two, see what happens. Okay. And, you know, that's what we're looking for. We follow the price action, we make the patterns, we make the channels, we see where it's connecting with the moving averages, and just try to make high probability guesses. So once again, it's either going to go up to 410 and then 417 or it's going to drop back down to 390. I'm hoping for the move up because I'm bullish. I have bullish positions. I want the market to move up. All right. So that's what we're seeing for the SPY. Let's look at the Qs. This is the NASDAQ. Same thing. We've got the V shape pattern here. You can see the downtrending channel. Now, the NASDAQ got out and out and above the downtrending channel. Here was yesterday, Friday, September 9th, had a big move yesterday. And here is the 50-day moving average. Got just above that, closed near the highs of the day. So once again, we've got the 20-day moving average lurking above right here, the tip of the 20-day. And then above it is the, got a 200-day up here. But I think the support and or resistance level could be right around 320. So we got some, draw the line here. So the Qs could be looking to get to that 320-ish level, maybe just below it. You can see some support here, some activity here, and then it got up and below in the V here. So look at maybe 318-320 right here as the next area after it hits the 20-day moving average could be that line in the sand. And then you got the 200-day lurking above. So trying to make a prediction on a daily basis is a hard thing. We want to go with the longer term moves. We're hoping that if it can get through all this junk here, get back towards the highs, which was 4-10-ish or so back in November of 2021. I'd like to see that happen. Seasonally, August and September have not been good to the market. September, I think, is the worst month of the year historically. So we got to get through September first. So we may have a lot of sideways action, maybe a little more downside action before we get to the end of the year, which is the really good time of the year seasonally. So got to get through September, but if we can maintain, kind of stick around here, not drop down too far, that would be a good thing. Let's look at the Dow Jones. This is the DIA symbol. For those of you who want to know what the symbol is, I'll move myself over here. DIA, same thing. I haven't drawn the downtrending channel here. To draw the channel, you connect some tops, you connect the bottoms, just to get a visual doesn't have to be exact, just to let you know which way the market's moving. So you can see the V shape as well. These indexes, they all move the same direction. Some a little bit more, some a little bit less. The Dow is only 30 stocks, old stocks, not as erratic as the NASDAQ. So the NASDAQ, the cues will have bigger moves up and down versus the Dow Jones. All right, let's look at some individual stocks. Just to try to see, we're all about trying to make higher probability guesses here on where the market and individual stocks are going to go and then you plan your trades accordingly. What we do with the smart option sellers, we sell put options and we sell put option credit spreads. Why do we do that? Because it gives us lots of room for directional error. When you're trading options, you have to understand you're only going to make money if you predict where the stock is going to go and be at at a certain time. When you buy options contracts, they all have an expiration date. So if the stock does not make the move by the expiration date when you're buying options, you're going to lose money. On the flip side, when you sell options that you don't always, you don't have to predict where the stock is going to be by a certain date. That's not what happens when you, when you sell options in a certain way. The way we do it is we sell out of the money put options, which means we sell strike prices way below where the stock is currently trading. As long as the stock doesn't fall that far, we're going to make money. That's how we, and that's how we make our trades. So we don't have to predict where the stock is going to go. All we have to predict is where the stock isn't going to go. And when you have all this cushion for directional error, then you're going to make higher probability trades. That's what we do. So we're option sellers. So here's Apple. We look at more popular stocks because these are stocks that people are interested in. Apple, same thing. You can kind of see the V shape here, just like the rest of the market. You can put some support resistance levels right around this 150 mark right here. Okay. So that was an area of some support, some prior resistance. You can see bounced here, came through it here, found some resistance here, dropped back down, and then blasted through it. So if it keeps coming down, 150 is going to be an area where it probably trades sideways for a little bit. People are trying to figure out, is it going to go below or is it going to jump off of it and bounce back? So 150 for now, Apple is the next line in the sand. And back here was around 140, was some prior support. You can see bounced off the 140 level way back last summer, 2021. So like I said, it's all about trying to figure out the higher probability scenarios. You got a 20-day moving average, where's my 20-day? 20 days up here, this blue line, sometimes hard to see, I understand. You got the 200-day is here, and you got the 50-day moving average. They're all kind of near each other. So Apple really playing in the channel, 150 next line in the sand. Let's look at Tesla. Now you can see these are congestion patterns. These triangle patterns gives us an idea of a stock that's getting tighter and tighter in their ranges, and then it's going to blast out either higher or lower. Most people are bullish on Tesla. So when you get these congestion patterns, sometimes they're more likely to blast out to the upside, but not always. You can see this one, it came out to the downside, but found the support right on the 50-day moving average here and is bounced back up. So Tesla is one of those stocks that you cannot hold down for a long period of time. Still, it's right around the $300 mark. They had their three-for-one split recently, so that would have been $900 pre-split. So Tesla hanging around, you can see the $300 level is just ups and downs around this area. That's where it seems to be finding the equilibrium right around the $300 level. It's above it, below it, above it, below it, and now it's sitting right on it. So Tesla is one of those stocks that's really hard to really come up with a game plan because it's very erratic. People are perma-bulls on Tesla. So I stay away for the most part for our newsletter. I'll sell some way deep out of the money, put options on Tesla every now and again, but it's kind of hanging around here. Whichever way the overall market is going to go, the stocks will fall because most stocks don't have news items that's going to jerk the movement around on a daily basis. So they have to, for the most part, fall the indexes. So Tesla, right around $300, above and below, can't really get a gauge on what's happening there. Let's take a look at Amazon. Amazon, we had the support right just above $100. You can see how it bounced many times off of that. Has sort of the W pattern here. Not that great, but you get a W pattern on the lows. Once it breaks the middle point, it can go higher. So as it was coming up here, we had the air pocket here. So it did blast above, hit the $200 day and it's now falling down, but finding support right on the 50-day moving average right here. Got the 20-day lurking above. So Amazon's kind of stuck in this range right here. Still about $100 a share as support. Not much going on there. Let's see what other stocks we have. What do we usually look at? AMD. AMD is a stock that we're playing in our newsletters. We sold some put options on, put option credit spreads. So I love the chip sector. That's AMD and Vidia to a lesser degree. Intel will look at those stocks, but the chip stocks have been really coming down since that December, January period, just been in this big channel. It's been hard for me to understand because these are stocks that are going to drive the economy for a long period of time. We need computer chips. We need these companies driving the computers. So these chip stocks have really taken it on the chin since December or so. Was in the downtrending channel, popped above it here. This was an area. This is when we got into our put-sell trade and it just started to come off again. Now the good thing for us is that we play down here. We still have cushion. For people that bought at $100, now it's at $80. They've lost $20 a share. That's a big move. We haven't lost that much on our put-sell positions. We're underwater a little bit, but not nearly to the level if you're buying shares of stock or buying call options. So that's why we like to sell put options. Gives us lots of room for error. Now AMD, you can see here's the top edge of the channel. Got back below it this week, but then yesterday, Friday, September 9th, popped above the channel. Here's where we finished. Finished on the highs of the day. So I'm hoping maybe AMD has found its footing down here and is getting ready to go up for good. So we'll see that. Let's look at this is NVIDIA. Okay. If I don't have it written down, you can see up here in the top left corner, this is NVIDIA. Also in this big down trending channel, you can just draw a line from the tops here. You can just see the way that it's moving. So it's got a lot of resistance above unfortunately. Down here seem to be a 135 or so line in the sand. Some support here. I want to see NVIDIA has got a long way to go. It's down in the dumps. Let's look at Intel. I'm not a fan of Intel since the past few years when AMD really took over. Here's the, let's look at the monthly chart for Intel. Used to be the top dog and then late 2018-19 started to come off. And then with COVID it and then 2021 just got nailed here. But here's the 200 month moving average right here has fallen below it now. So I'm not a huge fan of Intel much anymore. I'm more of AMD. We can even look at Micron even in this down trending channel as well. So the chip stocks really taking it on the chin for now. I like to see them start to move higher. I'm patient. I know in the long run they'll go up. In our newsletter we're waiting for the turnaround as well. So that's the chip stocks. What else? Let's look at Walmart. This is Walmart. This 110 level, it got really oversold here on the RSI, bought in some shares, had a chance again, and then it finally bounced right in this area. Pulling back a little just like everything else. But you can see it's in the up trending channel. We want stocks that are in an up trending channel. When it's time to get in, we wait for, we look for the bounce off the lower edge of the channel. When it starts to bounce, then that's our cue to get in because the momentum is going upwards. Right now it's finding some resistance right here at the 200 day moving average. And we'll see if it could blast through it and head towards the top edge of the up trending channel. So you can use the bounces and off the bottom as your timing pattern to get into a bullish trade. And then when it comes up to the top edge, you either decide to get out if you're holding for the short term, you can get out or just wait. As it bounces, it's still moving in an upward direction. So you can hold through those bounces if you want, if you're a long term player. If you're a short term player, you take some money off the table and sell at the top edge. Okay, Disney, one of my favorites, been down in the dumps as well, just been heading down lower, lower, lower, maybe finding some footing here, but still has a long way to go. Here's a 200 day downsloping 200 days. So that's going to add a lot of resistance if it does come up to here. So we'll see what it does in due time. Let's see what other stocks we have that are worth looking at. Microsoft has been in this downtrending channel as well. I mean, obviously, since January, many stocks have been in a downtrending channel. That's just how it is. If the overall market's going down, most stocks are going down as well. This is Microsoft you can see up here in the downtrending channel. So are there stocks that have been going up? What stocks do go up? Well, there's some certain categories of stocks. Utility companies, I use this as an example. This is consolidated as an ED, ED is the symbol. This is utility company in the state of New York or in the northeast that has sort of bucked the trend. There are certain sectors, utilities, one of them that will go up in times of turmoil. You can see since this is March of 2021 just basically been going up, up, up, up, up, up, whereas the rest of the market's been going down. So that's Edison. Companies like, let's look at, let's see, some companies, this is Colgate. So you're looking for products, companies that we're going to buy stuff from regardless of our situation, things that we need on a daily basis. Now this is Colgate. They make a lot of products that we use. It's just been sort of sideways action. So not going down, not going up. So not too bad. If you're going to find a stock that is going sideways, you want to at least have a high dividend paying company because while the stock's going sideways, at least you're getting some dividends. Coca-Cola, we always talk about. Same thing, bottom left to top right. Coca-Cola has been a great company for a very long period of time. We can look at the monthly chart. Let's look at the monthly. Over time, Coca-Cola goes up. Great dividend paying company, Pepsi as well. Great dividend paying company. I mean, just look at the chart. Just look at the chart. Because these are the kind of companies you want to focus on for the long run. On a daily basis, you try to figure out timing-wise, when can I get in? When can I get in? Well, then you look for whether they're bouncing off a moving average. We got a 200-day moving average right here. Pepsi coming down right to the 200-day moving average not that long ago. So you can time your trades. If you're going hold for a long term and buy on a bounce off a 200-day moving average, the timing's better. But if you're holding for 10 years, does it matter if you buy it 170 or 175? Not really. But if you're looking to squeeze a few extra dollars out of it, wait for a pullback to a major moving average, like a 200-day. Even on Coca-Cola, the 200-day moving average has always seemed to have been the line in the sand where you can get some good support here, here, here, and here. Just recently, just like Pepsi, bouncing right on the 200-day moving average kind of has this triangle congestion pattern as well. So these are some things to look for for a longer term basis. These have been going up while a lot of other companies have been going down. Clorox was doing well at the beginning of the pandemic in 2020, up, up, up, up, up, and then it just hit a resistance point down, down, down, down, down. Had some sideways action down more. So Clorox finding here's the 200-day bouncing or finding resistance right there. If you can get through it, it'll probably go back up. So keep an eye on Clorox. I always look at, this is Verizon. Once again, you can see up top here, the symbol VZ. I want to buy into Verizon, but it's just still going down, down, down. Let's look at the monthly for Verizon. It has fallen below the 200-month moving average. That's a big deal. Where is the next line of support? Maybe between 35 and 40 right here, you got to go back in time and look to see where the last period of congestion was. This had a big down move here. I'm not really sure what that was. So between 35 and 40, maybe an area where I maybe nibble, I don't know yet, but you're not with a stock that looks like this. Top left to bottom right is not a stock that you want to get involved with because it just has the momentum lower. Trying to pick bottoms on a stock that's doing that could be a hard thing because you'd be picking bottoms for a long time. For a company like Coca-Cola, trying to pick a bottom, you have a better chance because it's been going up in the long run. So buying on a dip for a company like Coke is a better opportunity for buying on the way down. With the SPY, what I do is I nibble on the way down because I know in the long run, the whole market itself is going to be going up over time. So I buy little bits and pieces on the way down waiting for that eventual long-term movement to the upside. Let's look at some other individual companies and then we'll call it quits. Where are we here? Up here, Nike kind of down in the dumps as well, but it's a stalwart. It's a name brand company that is known around the world. Do you think Nike's going to stay down forever? Probably not, but you have to decide when it may be a good time for you to get in. Oracle Netflix, we can talk about Netflix. As I drew this line recently, here's support seems to be that it can't get through. Maybe this is, I don't know, maybe $216-$17, roughly, finding some support. Here's the 20-day moving average, so it's right around there. It's got a long way to go. Has the 200-day moving average lurking above. It's got this air pocket here, another air pocket here. So Netflix has a long way to go, but it may have finally found some support there. What else do we want to look at? Got the healthcare companies Bristol Myers. We took a put-sell trade on Bristol Myers. Why did we do that? Because as we know, the stock's going up, pulling back, got pretty oversold here, had the air pocket. We sold some puts right here, and this is a bullish strategy. So we want to try to find a bottom, and it's just rallied since. So that was a good trade for us, working out pretty well for us, Bristol Myers. But we like the healthcare industry. The XLV is the exchange-traded fund for all the big pharma and healthcare companies. Been moving sideways for a while. Let's look at, we look at Warren Buffett as well each week. He's worth, I don't even know, $120 billion at this point, maybe more. So we all know Warren Buffett, and I show this to you every week. Let's go back to our website here real quick. Oh, before I talk about Warren Buffett, let's talk about the put-selling basics e-book. We're all about put-selling here as a smart option seller. We sell options. That's what we do. And if you want to learn what put-selling is all about, why we love it so much, why is it such a great strategy, go to our website, smartoptionseller.com, click on the put-selling basics link, and you get a little introduction to it. Put your name and email address in here. You'll get an email from us and download the e-book. Also, Warren Buffett, the shop tab right here. We can go, here's a special report that I wrote, a different options trading strategy on how to buy Warren Buffett for pennies on the dollar. It's a different options trading strategy. But if you want to take advantage of piggybacking Warren Buffett in the long run, let's see how he's done in the long run. He's done pretty well. You can piggyback him, get into all his plays for a fraction of the cost. Okay. So that's Warren Buffett. What else? And Warren Buffett also sells put options just to let you know. So he's a big put option seller as well. What other stocks? PayPal, still kind of down in the dumps, but maybe finding some support down here in the $70 range. It's got to get above the 20-day moving average. Got the big down trending 200-day moving average above it. So it's kind of maybe finding some footing there. We don't have any plays on PayPal. And what else? Costco, doing okay. McDonald's, Twitter, nothing happening. Twitter, they're still fighting it out in court. Meta, Facebook still in this channel down here. It's got to break above or below before the next major move happens. And I think that's about it. That's about it. One other thing, GlaxoSmith Climb, another healthcare stock. Look how oversold this sucker is. We talked about, I think I talked about this last week, way oversold. It can't maintain this type of trajectory without some kind of bounce. I purchased some shares down here when it got oversold. This is a long-term, high-quality pharma company. Yes, it has moved sideways, but it really hasn't traded below $30 on a continual basis since the mid-1990s. So I'm banking on support here holding and like to see Glaxo get back to the upside in due time. All right, I think that's about it for the smart option seller Saturday Synopsis. Just showing you what I'm seeing on the charts, things that we look for. We look for bounces on the lower edge of a channel or off a moving average as a way to time our trades better. You just want to make higher probability trades. And if you're trading options, you have to understand the underlying stock that you're trading those options on. So give yourself a leg up. Understand these patterns. Understand where stock is in its cycle. Is it an up-trending channel or a down-trending channel that'll help you make better decisions than just blindly trying to trade options without understanding what stock reading is all about. All right, once again, we'll go back to our website, smartopsonseller.com. Right here, our services tab. Here's our two newsletters. Hover your mouse here. Smartopsonseller newsletter, vertical spread trader newsletter, and our one-on-one coaching, if you need some help, just learning more about options. And so I think that's about it for today. Hope this video has been helpful to you. Leave me a comment. Give me a thumbs up. Don't forget to subscribe to this channel. Hit that red subscribe button. Send me an email. I'll always answer. I'm here to help. I've been in this business a long time. I want everyone to become better and smarter options traders. Okay, that's all for me today. And I hope everyone has a great weekend. And I'll try to see you back here next Saturday. This is Lee Lowell signing off.