SPY Option Setup 4/15 - 4/19
The market seems to be heading back into a bullish direction. Im looking for SPY to break $429, if this happens I will enter a Call and will be looking to take profit towards $437. If SPY doesnt break $429 and instead creates new resistance then I will be looking to see if SPY goes back into the $420 - $424 zone. If SPY enters that zone and breaks the $421 support then I will be looking to enter in a Put. If entered in the Put I would look to take profit around $412 - $415. Overall my biased is Long, I'm thinking Bulls are going to continue to take over the market and Calls will be in favor.
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