Alright, y’all. We are dangling, unsupported underneath the 200DMA and that Bear Gap. I am trading cautiously today because inflation data days I tend to make a lot of mistakes.
35EMA - this level is a BEAST. We were unable to get above it yesterday. Trace it back 3 weeks and you’ll see it’s been there every time to push us back lower.
I will be looking to the outer spreads and even then I might push it out a little.
If and when I take a position I will update it here.
GL, y’all.
Trade active
So I did just go in here with a 5525/5500 bull put spread on the day. The premium I collected was 4.00
I have orders in at 8.75, 11.25, and 13.75 if we drop further. That is the play for the day 🙌🏼
I did choose the closer strikes rather than the further out due to how we opened.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.