$SPY up to $614 as final blow off top move?
Updated
I initially thought we'd see a move down of 5%-10% pre election. I played the move through 
UVXY calls.
We didn't end up seeing the full move play out that I had expected, but was able to capitalize on the move down yesterday whenUVXY was above $30. I sold all my calls yesterday as I expected downside to only be possible prior to Nov 1. So far, it's looking like that was a good call as we're starting to see a bounce today.
Now that we've in November, I expect a bullish move to play out through the election and after for a final blow off top.
I think it's likely that we see a move to $614 over the next two weeks.
I'll be buying 600C today for 11/15 to try to capitalize on this move higher.
Let's see if it plays out.
UVXY calls.We didn't end up seeing the full move play out that I had expected, but was able to capitalize on the move down yesterday when
UVXY was above $30. I sold all my calls yesterday as I expected downside to only be possible prior to Nov 1. So far, it's looking like that was a good call as we're starting to see a bounce today.Now that we've in November, I expect a bullish move to play out through the election and after for a final blow off top.
I think it's likely that we see a move to $614 over the next two weeks.
I'll be buying 600C today for 11/15 to try to capitalize on this move higher.
Let's see if it plays out.
Note
Bought
40 contracts of 600C for 11/15
200 contracts of 605C for 11/15
Note
Added another 50 contracts to bothNote
Brought my position totals to:
91 600C 11/15
250 605C 11/15
167 606C 11/15
Looking good so far. Let's see.
Trade active
The move should play out by next Wednesday 6/13. It may surpass target up to $617-630 as a strong blow off move.Note
Added 100 607C for 11/13 at .24 this morning.
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