SPY WEEKLY OPTION BOUGHT ON BREAK OF 204 SUPPORT

Updated

SPY WEEKLY OPTION BOUGHT ON BREAK OF 204 SUPPORT

SPY APR 8 204 P @ $.90
bought on break below 204 support
Also proprietary TOP signal received this morning

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topandbottomtradesignals.net

Note

Would like to see SPY break below 203 with 202 as a target

Note

Bounced off 203
Will see how end of day goes and what happens expiration day tomorrow.

Note

SPY Support at 203
Close to getting proprietary BOTTOM signal
$1.30 option high for the day
Will see what happens tomorrow - expiration Friday

Trade closed: stop reached

I always strongly recommend using trailing stops to protect profits and limit loses.
This position is no different and the position would have been closed yesterday with a profit.using a trailing stop.
SPY 203 turned out to be a bottom.
WE now have a proprietary BOTTOM signal.
Obviously opening a long position at the end of the day yesterday would have been the prudent thing to do.

GIFTEC

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