FAS weekly bull put spread / possible condor. 117/116 weekly bull put spread .09 limit
I will only look at this spread if we closed below 120 on the hourly.
Look to leg into a 129/130 bear call spread. IF you do both legs together, .15 limit on the condor expiring this week. I would not look at bear call spread unless FAS closes above 127 on the hourly.
Could consider buying a shorter term call if FAS breaks 125.11 resistance.
FAS
Market Breath and FASWe can see that stocks above 20 days MA is a good indicator to where market is overslod and ready to return to the main trend. We can use a highly correlated + highly volatile ETF to profit from this. It looks like the market is returning from extreme levels in the breath indicator and we have a clear stop.