$SPY Good strangle entry point targeting 530/508 by 15 April

Apr 2

This is one of the best setup to enter strangle or straddle options combo . small bullish candle with higher volume - RSI little broke the uptrend - at the trend point - Perfect setup - this move should lead to either 524 then 530 or 508 as falling target. Currently closed at 518.84 so at least we have 10-12 points to move- Friday 5th April - CALL SPY 519 AT 2.8 - PUT SPY 516 AT 1.3 so total for this combo at 4.1 while we expect move at 10$ so around 600$ as profit taken which is equal to 150% gain. If we take straddle 518 then it will cost CALL SPY 518 AT 3.4 - PUT SPY 518 AT 1.95 - So total about 5.35 and expected move at 10$ then around 465$ profit which is around 80% gain. Note the idea based on 15th April targeting close so its better to take next week expiry at 12 April. Good luck . please let me know if you tried this idea. thanks for reading!

Apr 2

Note

If we consider next Friday expiry at 12 April then the straddle combo will cost 8 approx. then Monday 15 April will reach of the triangle target!

Apr 2

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Zoom in

Apr 12

Trade closed: target reached

SPY Target reached . one of the best entry and best strangel week! all option paid double or trouble . SPY PUT 518 closed at 8 .

Apr 15

Note

SPY one of my best analysis. its hits the target on the exact day i draw it on 4th April . crazy