1.53 for 57 DTE SPY calls 200/205
SPY fell from 201 to 190 in 5 days, step ladder like.
drawing a channel, we are currently at a supply line.
In the last hour, SPY has been hitting resistance at the supply line.
I decided this is a good position to go short.
The risk, there may be supply at 190.5 area, the most recent low.
VIX is high enough for me to take a strike 7 points away at 200 for 1.53
I could have went farther to a less risky strike for my usual .86 (204/209), however I think there will be resistance at 200-201 area.
And I am feeling greedy.
drawing a channel, we are currently at a supply line.
In the last hour, SPY has been hitting resistance at the supply line.
I decided this is a good position to go short.
The risk, there may be supply at 190.5 area, the most recent low.
VIX is high enough for me to take a strike 7 points away at 200 for 1.53
I could have went farther to a less risky strike for my usual .86 (204/209), however I think there will be resistance at 200-201 area.
And I am feeling greedy.
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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.