SPY Puts
Looking for SPY to enter green zone ($381.3 - $382). $384-$385 is looking to become the new resistance, this is where I entered. My contract expires 7/13, going to try and squeeze some profits tomorrow morning and take this to $382. Also seeing a rising wedge pattern along with a triple top, for those reasons I am strongly biased on Puts.
Note
Looks like SPY is breaking the support level at $381, I will continue to hold my puts and take try to take these to $377 - $378. If it drops to $380.7 I will be securing some profits today and hold the rest of the contracts till tommorrow.Trade closed: target reached
Note
Tooks profits and re entered trade, Looking for $377.
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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.