Quick Idea for SPY:
- 50 DMA offers a quality stop long.
- Looking for Right shoulder/DCH.
- There is weakness in dominant cycle, but looking for a Daily Cycle High before OpEx (markets tend to rally right before Quad witching).
Not expecting the dip buyers to let this support break so easily, without at least 1 bounce. We could get punished for going against our macro view, but the market presents an opportunity.
Long SPY Sept 22 450C @ 0.58 debit
GLHF
- DPT
- 50 DMA offers a quality stop long.
- Looking for Right shoulder/DCH.
- There is weakness in dominant cycle, but looking for a Daily Cycle High before OpEx (markets tend to rally right before Quad witching).
Not expecting the dip buyers to let this support break so easily, without at least 1 bounce. We could get punished for going against our macro view, but the market presents an opportunity.
Long SPY Sept 22 450C @ 0.58 debit
GLHF
- DPT
Trade closed: target reached
Closed for 1.15 credit (+98% gain)Note
Sell Rosh Hashanah, buy Yom Kippur (early)
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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.
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.