Weekly $SPY Options

152
SPY

Last week our $568 Calls ran over 130%. Here's what we are watching this week. Confirmations are 15-30 minute candle closes above (calls) or below (puts) our pivot.

Range we are watching: $581-$585 (Pivot: $583.50)

Bullish Scenario: $585 Call 10/28
Entry: 15-30 minute confirmation CLOSE ABOVE $583.50
Target: $585

Bearish Scenario: $582 Put 10/28
Entry: 15-30 minute confirmation CLOSE BELOW $583.50
Target: $580.90, $578, $574
Note
Massive downside move yesterday, clearing through the range - paying handsomely on the downside.

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