Potential for a triple bottom on SPY. Depending on incoming news later tonight/tomorrow morning, I suspect a large move monday. Technicals would suggest that spy should be making a move upwards towards 293. If 293 rejects, then down we go again. If it breaks and retests as support, then we may make new highs. However, with the fear in the market, it is hard to say that's going to happen....except, "be greedy when others are fearful?"...
Currently in a long straddle.
Currently in a long straddle.
Commentaire:
286 is good support, retested once again. Depending how the next couple of days go, I may sell my contracts and buy puts, only to re-enter as calls before a run up.
Commentaire:
Sold calls, in puts.
Sold call option that expired Monday for profit.
Bought 287.5 8/30 call and 295 8/30 call.