$SPY - Bearish Bet is Still On
Upside target: 288-298 (Maximum: 301)
Above 301 will invalidate my expectation to the downside.
Downside target: 228 - 218
Trade idea:
You can wait a clear break of 270 to enter trade or enter near 290 - 298 level.
OR you can buy vertical put spread now:
BTO 1 x June 2020 280
STO 1 x June 2020 260
Cost of trade is roughly 6$
Disclaimer:
I bought a 280 put last Thursday (April 09, 2020) and I am looking to enter into put spread with it at later stage.
Above 301 will invalidate my expectation to the downside.
Downside target: 228 - 218
Trade idea:
You can wait a clear break of 270 to enter trade or enter near 290 - 298 level.
OR you can buy vertical put spread now:
BTO 1 x June 2020 280
STO 1 x June 2020 260
Cost of trade is roughly 6$
Disclaimer:
I bought a 280 put last Thursday (April 09, 2020) and I am looking to enter into put spread with it at later stage.
Trade closed: stop reached
Disclaimer
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