[03/03] SPY GEX Analysis (Until Friday Expiration)Overall Sentiment:
Currently, there’s a positive GEX sentiment, suggesting an optimistic start to the week following Friday’s bounce. However, the key Call resistance appears at 600, and it may not break on the first attempt. If optimism remains strong, there’s a chance SPY 0.09%↑ could still push above that zone after some initial back-and-forth.
🟢Upside Levels:
600–605 Zone: This is a major resistance area. Should SPY move decisively through 600/605, the next potential target could be 610.
610: This is currently the largest positive GEX zone for the week. Current option pricing suggests only about a 9% chance of closing at or above 610 by Friday, so it might require a particularly strong move to break through.
🔵 Transition Zone: Roughly 592–599. The gamma flip level is near 592, and staying above that keeps the market in a positive gamma range for now.
🔴 Downside Risk:
If 592 Fails (or HVL climbing up during the week, and after that HVL fails…): A drop could accelerate toward 585, which may act as the first take-profit zone for bears. Below that, 580 could be in play if selling intensifies.
Lower Support: 575 is the last strong support mentioned, but current option probabilities suggest about an 88% chance of finishing above that level, making a move below 575 less likely—though still possible given the higher put skew.
🟣Volatility & Skew:
IVR (Implied Volatility Rank) is quite high on SPY, with a notable put pricing skew (around 173.1%).
This heightened put skew indicates the market is pricing in faster, more volatile downward moves compared to upside.
Optionstrading
Time to Prepare | $SPY Options Bull & Bear Week 1 March 2025AMEX:SPY
Last week's AMEX:SPY $595 Put 3/10 ran for 66% from $480 up to $1,420.
The last two weeks, the market has suffered a controlled pullback. So far it has been cautious selling rather than outright panic. While fear has entered the market, it has yet to reach capitulation, where there would be significantly more potential downside. The key level to watch long-term is the 200SMA on the daily chart, currently at $568.45. This level, which hasn't been tested in 16 months, could signal a Stage 4 selloff, a more aggressive and potentially prolonged downward trend.
Here are this week's AMEX:SPY Options:
(15-30 minute candle closes for confirmation and stop-loss)
📜 $580 PUT 3/17
Entry: Breakdown and failed retest of $584.50
Target 🎯 : $580, $574, $571
📜 $590 CALL 3/17
Confirmed breakout over $584.50
Target 🎯 : $590, $591.50, $594
$SPOT the overvalued stock..Be real.. I’m an Apple Music/ Apple applications guy. This stock just seems a little too bloated for me. I’d like to see a retrace to that gap up, this market is volatile and this thing can move hardbody either direction. I’d take my chances with a short for about 50 days out, $560 is the target. I got a bearish rising wedge forming possibly here and some FIB retrace and Elliot Waves. Very expensive premiums as well. Have fun.
WsL
Options Blueprint Series [Intermediate]: Optimal Options StrikesI. Introduction
Options on futures offer traders a flexible way to participate in market movements while managing risk effectively. The Japanese Yen Futures (6J) market provides deep liquidity, making it a preferred instrument for options traders. In this article, we will explore how to optimize Bull Call Spreads in Yen Futures (6J) by understanding price equivalency and strike selection.
One of the most critical aspects of trading options on futures is recognizing that continuous futures charts and contract-specific charts display different prices. This discrepancy must be accounted for when setting up trade entries and exits. Additionally, strike price selection significantly impacts the reward-to-risk ratio, breakeven price, and probability of profitability.
By identifying key support and resistance levels (UFO), we will define trade setups that likely align with market structure, targeting precise entry and exit points. We will also compare different Bull Call Spread variations to understand how adjusting the strike selection impacts risk and potential reward.
II. Understanding the Japanese Yen Futures Contract
Before diving into the options strategy, it is essential to understand the specifications of the CME-traded Japanese Yen Futures (6J) contract:
Contract Size: Each futures contract represents 12,500,000 Japanese Yen
Tick Size: 0.0000005 USD per JPY (equivalent to $6.25 per tick)
Trading Hours: Nearly 24-hour trading cycle with short maintenance breaks
Margin Requirements: Currently $2,900 (varies through time).
For this article, we focus on December 2025 Yen Futures (6JZ2025). Since the market price displayed on continuous charts (6J1!) differs from contract-specific charts, we need to establish price equivalencies to align our trade analysis.
III. Price Equivalency Between Continuous and Contract-Specific Futures
Futures traders commonly use continuous charts (such as 6J1!) for analysis, but when trading options, it is crucial to reference the specific futures contract month (such as 6JZ2025). Due to roll adjustments and term structure variations, prices differ between these two charts.
In this setup, we identify key UFO-based support and resistance levels and adjust for contract-specific price equivalency:
Support Level Equivalency: 0.0066325 (6J1!) = 0.0068220 (6JZ2025)
Resistance Level Equivalency: 0.0069875 (6J1!) = 0.0072250 (6JZ2025)
These adjusted price levels ensure that the trade is structured accurately within the December 2025 contract, aligning option strikes with meaningful technical levels.
IV. The Bull Call Spread Strategy on Yen Futures
A Bull Call Spread is a vertical options spread strategy used to express a bullish outlook while reducing cost and limiting risk. This strategy involves:
Buying a lower-strike call (gaining upside exposure)
Selling a higher-strike call (reducing cost in exchange for capping maximum profit)
This setup provides a defined risk-reward structure and is particularly useful when targeting predefined resistance levels. Given that we identified 0.0068220 as support and 0.0072250 as resistance, we will structure multiple Bull Call Spreads to compare strike selection impact.
Now that the trade structure is established, let’s explore how different strike selections affect risk, reward, and breakeven prices.
V. Strike Selection and Its Impact on Risk-Reward Ratios
Selecting the appropriate strike prices is crucial when structuring a Bull Call Spread, as it directly affects the breakeven price, maximum risk, and maximum reward. To illustrate this, we compare three different Bull Call Spread variations using December 2025 Yen Futures (6JZ2025).
1. 0.00680/0.00720 Bull Call Spread
Breakeven: 0.006930
Maximum Risk: -0.00013
Maximum Reward: +0.00027
2. 0.00680/0.00750 Bull Call Spread
Breakeven: 0.0069789
Maximum Risk: -0.00018
Maximum Reward: +0.00052
3. 0.00680/0.00700 Bull Call Spread
Breakeven: 0.006879
Maximum Risk: -0.00008
Maximum Reward: +0.00012
Observing these variations, key insights emerge. The 0.00680/0.00750 spread offers the highest potential reward but comes with the highest breakeven and greater risk. Meanwhile, the 0.00680/0.00700 spread minimizes risk but provides a lower profit potential. Strike selection, therefore, becomes a balance between profitability potential and probability of success.
A wider spread (such as 0.00680/0.00750) has a higher reward-to-risk ratio, but it requires the price to move further before generating profits. Conversely, a narrower spread (like 0.00680/0.00700) has a lower breakeven price, increasing the probability of profitability but limiting potential upside.
VI. Trade Plan for a Bull Call Spread
Based on the analysis of strike selection, a balanced trade plan can be structured using the 0.00680/0.00720 Bull Call Spread, which offers a favorable reward-to-risk ratio while maintaining a reasonable breakeven price.
Market Bias: Bullish, expecting a move toward resistance
Selected Strikes: Long 0.00680 call, short 0.00720 call
Breakeven Price: 0.006930
Target Exit Price: 0.0072250
Maximum Risk: -0.00013
Maximum Reward: +0.00027
Reward-to-Risk Ratio: 2.08:1
This setup capitalizes on the previously identified UFO support to define the entry point, while the UFO resistance provides a target for exit. The breakeven price remains at a reasonable level, ensuring a greater probability of the spread moving into profitability.
VII. Risk Management Considerations
While the Bull Call Spread limits risk compared to outright long calls, proper risk management is still necessary. Traders should consider the following:
Using Stop-Loss Orders: If price breaks below the UFO support level at 0.0068220, traders may exit the position early to avoid excessive losses.
Hedging with Puts: If volatility spikes or market sentiment shifts, a put option or put spread can serve as a hedge against adverse movements.
Position Sizing: Adjusting contract size ensures that total exposure remains within acceptable risk limits based on account size.
Time Decay Considerations: Since time decay negatively impacts long call options, traders should monitor the spread's profitability as expiration approaches and adjust positions accordingly.
By implementing these risk management techniques, traders can optimize their Bull Call Spread strategy while mitigating unnecessary exposure.
When charting futures, the data provided could be delayed. Traders working with the ticker symbols discussed in this idea may prefer to use CME Group real-time data plan on TradingView: www.tradingview.com - This consideration is particularly important for shorter-term traders, whereas it may be less critical for those focused on longer-term trading strategies.
General Disclaimer:
The trade ideas presented herein are solely for illustrative purposes forming a part of a case study intended to demonstrate key principles in risk management within the context of the specific market scenarios discussed. These ideas are not to be interpreted as investment recommendations or financial advice. They do not endorse or promote any specific trading strategies, financial products, or services. The information provided is based on data believed to be reliable; however, its accuracy or completeness cannot be guaranteed. Trading in financial markets involves risks, including the potential loss of principal. Each individual should conduct their own research and consult with professional financial advisors before making any investment decisions. The author or publisher of this content bears no responsibility for any actions taken based on the information provided or for any resultant financial or other losses.
$MSFT $SNOW sympathy play, $390-$400 SupportNASDAQ:MSFT NYSE:SNOW — Microsoft is like a snail in this AI/ Tech race but I suppose that shows strength because no major drops and holding zones well. Bottoms after bottoms. I’m looking for short term calls here. As of today, ending week 2/28, I may try $405c. But can see this retest the $420s weeks to come.
WallStreetLoser
GEO The GEO Group Options Ahead of Earnings If you haven`t bought the dip on GEO:
Now analyzing the options chain and the chart patterns of GEO The GEO Group prior to the earnings report this week,
I would consider purchasing the 26usd strike price Calls with
an expiration date of 2025-4-17,
for a premium of approximately $3.10.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
$SPY Bull & Bear Options to End FebruaryThe AMEX:SPY is at a crossroads as we close out February. We’ve had hotter-than expected inflation, talks of tariffs, promises of deregulation, China’s stimulus rollout, and Wall Street’s continuing “soft landing” narrative. This is a time to be cautious. Friday’s PCE inflation data could sway the Fed’s March rate decision. Midterm elections and tax cut debates are heating up. Regardless of the noise, the levels show us the way.
We are trading in the range of $591 to $600. For this week, we will be using support over $597 as the entry for calls and a rejection under $600 for puts.
Here are this week’s AMEX:SPY options:
(15-30 minute candles for confirmation and stop-loss)
📜 $595 PUT 3/10 or $591 3/11 (Cheaper, but higher risk)
Entry: Retest & rejection under $600
Target 🎯 : $595, $591.50, (Continuation: $587, $585)
📜 $603 CALL 3/11
Entry: Breakout & retest over $597.70
Target 🎯: $601, $603, $603.44, (Continuation: $606, $608)
/ES - GEX Structure with TPO and SPX GEX insight
The structure revisited last week's POC during GLOBEX, followed by position adjustments during the US CASH SESSION. As usual, 99% of the time, this zone oscillates up and down without a clear direction.
Respecting the downside levels, the market tested Friday’s low around 6018 to see if it holds, showing no interest in paying anyone.
I’m leaning towards a bearish stance as long as we keep trading below 6060/6080.
Key Levels:
POC Retest (GLOBEX): 6040
Friday’s Low: 6018
Highest Negative NETGEX: 6010
2nd PUT Wall: 5990
3rd PUT Wall: 5965
Single Prints Area: Below 5950
Poor Low Zones: 5920 and below
The market remains stuck in a balance area, reacting to these levels while traders adjust positions. Any sustained trade below 6018-5990 could trigger further downside movement, while reclaiming 6060/6080+ may shift the bias back upward.
SP:SPX = GEX considerations :
1. GAMMA CONDITION
Currently Negative → SPX is in a Put-Dominated Environment, meaning put open interest and volume outweigh calls.
Why it matters:
Negative gamma means market makers hedge by selling into declines and buying into rallies, increasing volatility.
If SPX drops further, dealers must sell more, potentially accelerating downside moves.
2. NET GEX / DEX (Gamma and Delta Exposure)
Gamma Exposure (GEX)
Since Yesterday: Net GEX decreased by -86.51M (-10.67%), moving from -810.5M to -897M.
Since 14:00: Net GEX decreased by -85.33M (-10.51%), now at -897M.
Interpretation:
A decreasing negative GEX suggests put activity is rising or being adjusted, reinforcing volatility.
With negative gamma, dealers hedge in ways that magnify price swings in both directions.
Delta Exposure (DEX)
Since Yesterday: Net DEX dropped by -47.58B (-4.24%), from 1.12T to 1.07T.
Since 14:00: Net DEX decreased by -33.39B (-3.02%), now at 1.07T.
Interpretation:
The decline in DEX suggests dealers are reducing their long delta exposure, which may indicate hedging pressure in response to market movement.
3. VOLUME & PUT/CALL RATIOS
P/C Volume Ratio: Increased to 1.45, indicating more puts being traded than calls.
Call Volume (Since Open): 1.14M contracts, up 6.46% since 14:00.
Put Volume (Since Open): 1.65M contracts, up 8.24% since 14:00.
Interpretation:
A Put/Call Ratio of 1.45 signals a strong bearish bias, as traders are buying more puts for downside protection.
The increase in put volume confirms that downside hedging is intensifying.
Top 5 Strikes by Volume:
6000 Put (128.67K contracts)
6050 Call (77.35K contracts)
6000 Call (71.31K contracts)
6040 Call (68.04K contracts)
5950 Put (67.57K contracts)
Interpretation:
Heavy put volume at 6000 suggests this is a key support level.
Calls at 6050 & 6000 show traders positioning for potential resistance at these levels.
4. PRIMARY LEVELS (Support & Resistance)
Call Resistance: 6200 (far above spot price).
Call Resistance (0DTE): 6055 (40.8 points above current price).
Put Support: 6000 (14.2 points below).
Put Support (0DTE): 6010 (4.2 points below).
Interpretation:
6000 is a key support level—if broken, expect further selling.
Resistance at 6055-6060 means bounces could struggle around this zone.
5. GAMMA FLIP (HVL - High Volatility Level)
HVL (Gamma Flip Level): 6095 (80.8 points above).
HVL (0DTE): 6050 (35.8 points above).
Interpretation:
6095 is the gamma flip zone—above this, gamma could turn positive, leading to more stability.
As long as SPX trades below these levels, we remain in a volatile, bearish regime.
6. TOP GEX STRIKE CHANGES
Largest Positive Changes (Increased GEX - More Call Exposure):
6020: +10.23M (+24.58%)
6050: +4.01M (+11.83%)
6015: +3.99M (+18.02%)
6045: +3.53M (+23.67%)
6035: +3.51M (+20.02%)
Largest Negative Changes (Decreased GEX - More Put Exposure):
6010: -25.9M (-39.22%)
6000: -10.87M (-11.14%)
5990: -7.89M (-23.78%)
5975: -5.33M (-10.53%)
6055: -4.67M (-85.38%)
Interpretation:
Biggest GEX drop at 6010 and 6000 → weakening support, making downside moves more likely.
GEX increase at 6020-6050 → some resistance is building there, potentially capping rallies.
OVERALL TAKEAWAYS
📉 Bearish Bias:
The negative gamma condition and put-heavy environment suggest increased volatility and downside pressure.
Key downside level: 6000—a break could trigger more selling.
Resistance zone: 6050-6060—any bounces may struggle here.
Dealers are positioned to sell into weakness, reinforcing potential downward momentum.
Nifty Market Update: Bears Are in Control – A Rough Ride Ahead?The Nifty closed at 22,795 this week, down by 134 points from the previous week’s close, with a high of 23,049 and a low of 22,720. The formation of a Gravestone Doji candle indicates that the market is firmly under the control of the bears, signaling potential weakness ahead. As forecasted last week, Nifty moved within the range of 23,450 to 22,400, aligning perfectly with my predictions.
Looking ahead to next week, I expect Nifty to trade between the 23,300 to 22,250 range. While 22,300-22,400 offers a strong support zone, if the index slips below 22,250, it could test the WEMA100 at 22,050, which could offer some relief.
Digging deeper, I analyzed the Nifty50 monthly chart from 2004 onwards and noticed a recurring pattern: whenever Nifty closes below the monthly EMA21, it tends to test the EMA50, which currently stands at 19,450. If this month’s close is below 22,400, we could be heading toward 19,450, so brace yourselves for what could be a bumpy ride ahead.
On the international front, the S&P 500 is showing signs of forming a bearish M-pattern, a negative signal for the broader market. This is troubling news for Indian markets, which are already under pressure. From the current level of 6,013, a 1.5% correction could see the index testing support levels around 5,900.
The battle between bears and bulls continues, but for now, I believe the bears still have the upper hand. Stay cautious and keep a close watch on market movements – volatility is here to stay!
Options Trading with TradeStation: TradingView ShowIn this video, we're diving into options trading with David Russell, Head of Global Market Strategy at TradeStation, for a live stream exploring the latest updates to the platform, especially the enhanced integration with TradeStation for options trading. This update enables TradingView users to access equity options trading for the first time with a US brokerage, making it easier to trade directly from the TradingView platform.
Learn how to read an options chain, create an options order, and combine options trading with charts, research, and more. The new integration, combined with TradingView’s suite of educational tools like the strategy builder, chain sheet, and volatility analysis, helps traders see the options market in a new way, with crystal clear visualizations and data.
This live stream will highlight how users can link their TradeStation accounts to TradingView for seamless options trading and explore the opportunities that come with these updates.
This educational session is a great chance to learn about the latest tools and strategies that can elevate your trading success.
Got questions or eager to dive deeper? Drop them in the comments below—we’re here to help!
Thanks for tuning in, and get ready as we have many more groundbreaking tools for you. Stay tuned for what's next!
$SEDG BEATS + and No Worries! Confessions from the DeskConfessions from the Desk: 10X, Black Coffee, and No Worries
SolarEdge is up 20%, and my Feb 21, 2025, $20 strike call has officially 10X’d. That’s right—after weeks of my portfolio looking like a crime scene, I’ve finally hit a clean, beautiful, 10X multiplier.
And today? I’m sipping my black coffee like a hedge fund manager who actually knows what they’re doing. Not even the endless tariff talk, geopolitical panic, or Fed fearmongering can shake me today. Let them try—I’ll just take another sip.
Now, let’s be real. Am I suddenly a genius? No. Did I see this coming? Also no. But I’m here, and I’m winning. And in this market, that’s all that matters.
So cheers to today. The market gods have finally smiled upon me.
Breakout or Fakeout? SPX at CrossroadsBreakout or Fakeout? SPX at a Critical Crossroads | SPX Market Analysis 17 Feb 2025
Welcome to another shortened trading week, thanks to Presidents' Day (or maybe an extended Valentine's weekend for the lucky ones).
With all the nudge nudge, wink wink out of the way, let’s talk setups. I’m watching two key trade scenarios—a breakout continuation or a break-in reversal (aka a false breakout).
For now, it’s time to grab a cuppa and a hobnob while waiting for the markets to open.
---
SPX Deeper Dive Analysis:
☕ Tea, biscuits, and breakout confirmations
With Tuesday’s open ahead, my focus is on two key setups that could determine the next tradable move.
Scenario #1 – The Breakout That Needs to Prove Itself
On Friday, SPX tried to break out, but price action was about as decisive as someone staring at a restaurant menu for 20 minutes before ordering a burger.
Price meandered sideways, leaving traders guessing
I chose to sit this one out, because long weekends can mess with momentum
Now, we watch if Tuesday brings real follow-through
If this breakout is legit, we should see:
✅ A strong push above Friday’s highs
✅ Sustained momentum without rapid reversals
✅ Clean continuation setups for bullish entries
If we get weak price action, I’ll hold off on longs and consider the next setup…
Scenario #2 – The ‘Break-In’ (A False Breakout Setup)
Now, let’s talk about something you won’t find in trading textbooks—the Break-In setup.
Think of it like this: Imagine SPX breaking out, getting everyone excited, then suddenly doing a U-turn and slamming back into the previous range. Traders who chased the breakout get trapped, and those who spot the reversal early have a golden shorting opportunity.
Signs of a Break-In setup:
❌ Price fails to hold breakout levels
❌ Quick rejection and reversal back into the previous range
❌ Bearish momentum builds instead of continuation
If SPX falls back into the range, I’ll be watching for short setups, because these moves can be quick and brutal.
So What’s the Plan?
🧐 1. Watch for Tuesday’s Open – If SPX continues Friday’s breakout, we look for bullish setups. If not, the Break-In trade is on the table.
🎯 2. Avoid Jumping in Too Early – Long weekends can create fake momentum that doesn’t hold. Patience is key.
🍪 3. Keep an Eye on Volatility – If volume is weak, the move could be another dud. But if volatility spikes, we could get a real tradeable move.
🚀 Key Takeaway? SPX has picked a direction, but the real move happens once full liquidity returns. Until then, I’ll be enjoying my tea and biscuits while the market figures itself out.
Fun Fact
📢 Did you know? The biggest post-holiday market crash happened in 1929, when the Dow plunged 12.8% after a weekend—triggering the Great Depression.
💡 The Lesson? Markets don’t take holidays—they just store volatility for later. That’s why smart traders stay prepared for anything after a break.
MP Materials Options Ahead of EarningsIf you haven`t bought MP before the previuos earnings:
Now analyzing the options chain and the chart patterns of MP Materials prior to the earnings report this week,
I would consider purchasing the 25usd strike price Calls with
an expiration date of 2025-6-20,
for a premium of approximately $2.97.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
DVA DaVita Options Ahead of EarningsAnalyzing the options chain and the chart patterns of DVA DaVita prior to the earnings report this week,
I would consider purchasing the 175usd strike price Puts with
an expiration date of 2025-2-21,
for a premium of approximately $8.45.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
$SPY Options - Bull & Bear | February Week 2We have been range bound the last three weeks. Sellers are starting to exhaust buyers more quickly than before. We are leaning bearish but confirmation is king. We use 15-30 minute candle closes for confirmation and stop-loss.
Should there be a significant pullback, $580 and $560 are major floors of support.
Here are our bull and bear options for this week:
$600 PUT 2/24
Entry: Confirmation of breakdown under $603.44 (OR harsh rejection at $606)
🎯Target: $600 ($603.44)
$608 CALL 2/24
Entry: Confirmation of breakout over $606
🎯Target: $607, $608
Here's how last week's options went:
📜 AMEX:SPY $605 Call 2/21
$500 → $770 (+54%)
📜 AMEX:SPY $605 Call 2/18
$350 → $645 (+84%)
[02/10] SPX – GEX Until the First Weekly ExpirationThe SPX opened with a huge gap-down in both the futures and CFD markets. After the previous two Fridays, there was a massive gap-down in the premarket each time. Everyone was expecting the same scenario again, but it seems the market quickly recovered from the put support at the 6000 level, and we are now steadily moving toward the positive GEX range.
Although we are still in the transition zone (where it’s easy to switch between positive and negative GEX territory), we may soon reach the HVL level at 6060, which, if I had to guess, might be adjusted during today’s premarket update.
The GEX levels align with the technical foundations:
🟢 6090–6100 to the upside is a bullish take-profit zone, and our purely positive GEX range is fairly narrow. If buying pressure is strong, above 6100 we could see a very strong positive gamma squeeze upward.
🔴 To the downside, “armageddon” could begin if the put support around 6010–6000, which held the sell-off this morning, fails to hold. The next target in a negative gamma squeeze could be 5950, followed by 5900.
The transition range is quite wide, and the market is expecting a volatile week (though I believe that from now on it’ll expect volatility every day for the next four years...).
The transition zone is sure to narrow by Friday. It’s worth paying attention to the premarket update around 6:45 AM, about three hours before the market opens!
If the red zone extends very deep afterward (for example, if it’s red below the HVL level all the way to the put support at around 5950), it indicates a significant downside risk compared to any potential rally—which I don’t think will change unless we get a breakout above 6100.
🔶 So, be cautious with those bullish horns—below 6100, we can’t talk about a confirmed breakout to the upside.
Monster Weekly Breakout?ASTS is forming a bullish pennant on the weekly chart, characterized by a pullback on declining volume after a strong impulse move. The stock recently made a high near $25 and is consolidating in a tightening range, indicating a potential continuation pattern. The declining volume during this pullback suggests sellers are weakening, while buyers are likely waiting for a breakout confirmation.
Trade Plan:
• Entry Trigger: A weekly close above $25 will confirm the breakout from the pennant and signal bullish continuation.
• Price Target: First target at $30, aligning with the measured move projection from the initial leg of the rally.
• Stop Loss: Below $23, to protect against a failed breakout and trend reversal.