SPY - Playing the Fibs - Bull Strategy
One trading theory I've come upon suggests that a price may find support at the .382 fib line. price would then rally to the .238 fib line above. This suggests a price range between 440 and 470. To test this assumption, I'm looking at the October 460-470 call spread, currently at 2.5. Proving the idea with a move to 470 would pay 10.
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