TopgOptions

SPY S&P 500 etf Options expiring next week

Long
BATS:SPY   SPDR S&P 500 ETF TRUST
If you haven`t bought puts ahead of the FED`s Interest Rate Decision last week:
Which happen to end up 4.18X higher after the Federal Reserve suggested the likelihood of another rate increase in the near future.

Then you need to know that SPY is approaching an oversold area.
And historically, as you can see in the RSI chart, in these areas technical players tend to buy the dip, anticipating a technical rebound.

In this context, and looking into the options chain, I would consider the following Calls expiring next Friday:
2023-9-29 expiration date
$430 Strike Price
$4.38 Premium

Looking forward to read your opinion about it!

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