We have been range bound the last three weeks. Sellers are starting to exhaust buyers more quickly than before. We are leaning bearish but confirmation is king. We use 15-30 minute candle closes for confirmation and stop-loss.
Should there be a significant pullback, $580 and $560 are major floors of support.
Here are our bull and bear options for this week:
$600 PUT 2/24
Entry: Confirmation of breakdown under $603.44 (OR harsh rejection at $606)
🎯Target: $600 ($603.44)
$608 CALL 2/24
Entry: Confirmation of breakout over $606
🎯Target: $607, $608
Here's how last week's options went:
đź“ś
SPY $605 Call 2/21
$500 → $770 (+54%)
đź“śSPY $605 Call 2/18
$350 → $645 (+84%)
Should there be a significant pullback, $580 and $560 are major floors of support.
Here are our bull and bear options for this week:
$600 PUT 2/24
Entry: Confirmation of breakdown under $603.44 (OR harsh rejection at $606)
🎯Target: $600 ($603.44)
$608 CALL 2/24
Entry: Confirmation of breakout over $606
🎯Target: $607, $608
Here's how last week's options went:
đź“ś
SPY $605 Call 2/21$500 → $770 (+54%)
đź“ś
SPY $605 Call 2/18$350 → $645 (+84%)
I trade live on Discord - discord.gg/pennybois
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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.
I trade live on Discord - discord.gg/pennybois
Related publications
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.