Benzinga Options Outlook for the Week of September 16: Listen To What The Banks Say

Markets continue to be choppy amid continued Syria worries.

S&P 500 (NYSE: SPY) has shown the ability to chop left and right and really burn traders looking for moves a bit longer than usual. Traders should be very careful of the SPY 170 level. Breakout traders are bound to attempt this area, probably with a fade to come along burning those call buyers.

Overall, markets continue to be choppy on the move up. Traders should be looking for dip buys as usual to take advantage of cheap ATM calls.

Otherwise, consider selling options into the Friday expiration, given the volatility provided by headlining news. Trade small if you got burned last month and adjust to the new market environment.

The big names techs are good dip buys on the best days, but if traders were looking for shorts, watch carefully what the banks are telling you.

No big market moves just yet. Sit tight.