SPY BEAR CALL SPREAD NOV 460/480 VERTICAL
Updated
I shorted on Friday in the November contracts trading $15 OTM for a net credit 4.40. Decent premium for sky high contracts.
Target at 50 DMA ~438; expect further bounce from support before the real correction, IMHO; all corrections so far were preceded by double tops.
I sold 62 spreads, can add or just hold. I don't recommend this for the faint of heart. Calls should melt on triple witching Friday 20 Aug;
note periodicity on the bullish waves up, we due for one now; each bear move has lasted only 3-5 days before bouncing. GLTA!
Target at 50 DMA ~438; expect further bounce from support before the real correction, IMHO; all corrections so far were preceded by double tops.
I sold 62 spreads, can add or just hold. I don't recommend this for the faint of heart. Calls should melt on triple witching Friday 20 Aug;
note periodicity on the bullish waves up, we due for one now; each bear move has lasted only 3-5 days before bouncing. GLTA!
Trade active
Closed position on weakness intraday; re-entered ten contracts in late trade. Could get more bullish before it breaks, play safe, be defensive.Trade active
Closed again on the surprise gap down. More econonews, likely to bounce as futurz gapped and traders need to cover those shorts.Trade active
Traded calls intrraday 6x, 4/6 trades profitable. Scalping. Wait for the gap to fill before shorting again IMONote
Gone into all cash holding onto gains can rally here or sink more, pure gamble. Indices nearing or at oversold.Note
Technical bounce likely before deeper selloff IMO. Risk-off!Note
Got to close that gap IMO. Don't get caught short!Note
More scalping EOD in SPY calls. Closed all. Might rally, might not.Trade active
Re-enrty in the Oct 455/470 VCS for $3.13 Credit, ten spreadsTrade active
Entered a bear put spread and then closed it and Closed these as well, might spike pump EODNote
Yep looks like a pump incoming, short covering. Sell the rally!Note
I closed it all who knows if they bounce it, probly gap down but idk, take the money and run!Note
VERY tempting to chase this bear move but 4400 has been support; price stopped right there spot on; might firm up here. Pure crapshoot, wait, see. In cash.Also notice we got an impulsive EW from M-Th; this looks like a fifth wave; if so, next move = up.
Friday is Triple Witching. Day trades only now!
Trade active
Re-entering spread in Nov 367 calls, long the 382s for a $15 spread which trades $15 OTM on 09/02/21. Net credit $3.01, ten spreads. Let's see...Trade active
Back in this see recent posts, shorted Nov 457 spread vs 372 calls, net credit $4.20 on 20 spreads
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