SPY Swing Long on Reversal

10 янв. 2023 г.

SPY dropped to a mid Fib level from the recent pivot high and bounced.

Price is now rising in a channel predictive for a 1% rise tomorrow.

The ADX indicator shows the negative direction reversed and now positive

and rising out of the chop zone confirms the reversal as a solid one not

a fake out as does the MACD with a crossover under the histogram

I will trade this with strike 392 calls for expiration this Friday expectant

for 25+% return in two days

11 янв. 2023 г.

Сделка активна

Looking good ( actually great) so half the calls closed today another 1/4 to close tomorrow and hold the remaining for Friday return significantly higher than the goal
profit will be planted into puts when a top is hit ( watching fed data ).

13 янв. 2023 г.

Сделка активна

SPY rose $10 in 3 days basically 1 % daily- Call Options overall 128% in 3 days - trade closed; will recirculate ( compounding ) the proceeds next week depending on the analysis over the long weekend.