Spy trading inside the tight Range

Updated

I am not adding any long term positions. I am adjusting some Delta as we move up.
Trade short time frame trades until the consolidation is exceeded.
When this breaks out I think we could see a nice sized multi day move so be ready.

Trade active

I failed to mention, I do not take the first breakout of a range. Often this is locations stop sweeps on both side of a range can happen causing a range expansion or mega phone structure.

Trade active

upper boundary is being tested, just like I said a stop sweep could happen. I will wait for Monday before deciding if this break out looks legit or is it coming back inside. Back inside is my expectations, but ready for either event.

Trade closed: target reached

$8 move from post, I feel this is no longer at risk and a trail stop protecting gains if not closing all now. it was a win for option holders not for the stock with stop loss.

alleytrader

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