SPY Options to Kick off October
Election is less than a month away. Investors are taking profit and repositioning defensively until after the election noise. VIX over $21. We’re still just 3% off from all-time highs. The next catalysts are rate cuts, job numbers, and earnings. We expect volatility until the election noise settles.
This week, we are leaning bearish to start the week. However, the upside trade has the most room for continuation. We are using 15-30 minute candle closes for confirmation.
Best of luck!
$569 Call 10/16
Entry: 15-30 minute confirmation OVER $568
Targets: $569, $571, $574
$565 Put 10/16
Entry: 15-30 minute confirmation UNDER $568
Target: $565
SPY
Election is less than a month away. Investors are taking profit and repositioning defensively until after the election noise. VIX over $21. We’re still just 3% off from all-time highs. The next catalysts are rate cuts, job numbers, and earnings. We expect volatility until the election noise settles.
This week, we are leaning bearish to start the week. However, the upside trade has the most room for continuation. We are using 15-30 minute candle closes for confirmation.
Best of luck!
$569 Call 10/16
Entry: 15-30 minute confirmation OVER $568
Targets: $569, $571, $574
$565 Put 10/16
Entry: 15-30 minute confirmation UNDER $568
Target: $565
SPY 
I trade live on Discord - discord.gg/pennybois
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.
I trade live on Discord - discord.gg/pennybois
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.