Get started
SPDR S&P 500 ETF TRUST

SPY Triple Bottom

By Eurocrem
Updated
Potential for a triple bottom on SPY. Depending on incoming news later tonight/tomorrow morning, I suspect a large move monday. Technicals would suggest that spy should be making a move upwards towards 293. If 293 rejects, then down we go again. If it breaks and retests as support, then we may make new highs. However, with the fear in the market, it is hard to say that's going to happen....except, "be greedy when others are fearful?"...

Currently in a long straddle.
Note
Sold my put option to save 1/3 of premium.

Sold call option that expired Monday for profit.

Bought 287.5 8/30 call and 295 8/30 call.
Note
286 is good support, retested once again. Depending how the next couple of days go, I may sell my contracts and buy puts, only to re-enter as calls before a run up.
Note
Sold calls, in puts.
Chart PatternschinaoptionsSPDR S&P 500 ETF (SPY) tariffstradetradewarTrend Analysis
Eurocrem

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.