SPDR S&P 500 ETF Trust (SPY) 2-Hour Time Frame Analysis Current
Current Market Overview
As of December 2024, the SPDR S&P 500 ETF Trust (SPY) is showing a bullish trend with the following technical indicators:
MACD: Suggests a buy signal.
RSI: Indicates a neutral signal.
Moving Averages: Both 20-day and 50-day moving averages suggest a buy signal.
Price Action: The support level is at US$600.96, and the resistance level is at US$607.46.
Options Strategy Recommendations
1. Long Call
[Stock Symbol: SPY] trade_id: g-663257
Signal: Bullish
Option Strategy: Long Call
Current Price: US$605.57
Strike Price: US$550.00
Expiry Date: 20-Dec-2024
Buy/Sell: Buy
Call/Put: Call
Premium: US$55.46
Stop loss: US$49.91
Take profit: US$61.01
Probability of Profit: 51.4%
Implied Volatility: 96.81%
Max Loss: US$-5546.00
Max Gain: ∞ (infinity)
Break-even price: US$605.46
Days to Expiration: 2
Rationale: This strategy is designed to capitalize on a bullish outlook for SPY, with a high probability of profit and a defined risk-reward profile.
Conclusion
The SPY is currently in a consolidation phase, and the recommended options strategy provides an opportunity to capitalize on potential bullish market movements. The Long Call offers a high probability of profit with defined risk, allowing for profit from significant price movements in the upward direction.
As of December 2024, the SPDR S&P 500 ETF Trust (SPY) is showing a bullish trend with the following technical indicators:
MACD: Suggests a buy signal.
RSI: Indicates a neutral signal.
Moving Averages: Both 20-day and 50-day moving averages suggest a buy signal.
Price Action: The support level is at US$600.96, and the resistance level is at US$607.46.
Options Strategy Recommendations
1. Long Call
[Stock Symbol: SPY] trade_id: g-663257
Signal: Bullish
Option Strategy: Long Call
Current Price: US$605.57
Strike Price: US$550.00
Expiry Date: 20-Dec-2024
Buy/Sell: Buy
Call/Put: Call
Premium: US$55.46
Stop loss: US$49.91
Take profit: US$61.01
Probability of Profit: 51.4%
Implied Volatility: 96.81%
Max Loss: US$-5546.00
Max Gain: ∞ (infinity)
Break-even price: US$605.46
Days to Expiration: 2
Rationale: This strategy is designed to capitalize on a bullish outlook for SPY, with a high probability of profit and a defined risk-reward profile.
Conclusion
The SPY is currently in a consolidation phase, and the recommended options strategy provides an opportunity to capitalize on potential bullish market movements. The Long Call offers a high probability of profit with defined risk, allowing for profit from significant price movements in the upward direction.
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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.
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.