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DIREXION SHARES ETF TRUSTDIREXION SHARES ETF TRUSTDIREXION SHARES ETF TRUST

DIREXION SHARES ETF TRUST

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SPXL trade ideas

Opening (IRA): SPXL March 21st 154 Covered Call... for a 151.04 debit. Comments: Selling the -84 call against shares to emulate the delta metrics of a 16 delta short put, but with the built-in defense of the short call. (In all honesty, this is just an attempt to keep my theta/net liquidity ratio above .05, which is kind of the minimum of where I like to have it). Metrics: Buying Power Effect/Break Even: 151.04/share Max Profit: 3.96 ROC at Max: 1.96% 50% Max: 1.98 ROC at 50% Max: .98
AMEX:SPXLLong
by NaughtyPines
Opening (IRA): SPXL April 17th 148/October 17th 85 LCD*... for a 56.84 debit. Comments: Looking to be a little bit more buying power efficient here ... . Buying the back month 90 delta and selling the front month that pays for all the extrinsic of the long. Metrics: Buying Power Effect: 56.84 Break Even: 141.84 Max Profit: 6.16 ROC at Max: 10.84% 50% Max: 3.08 ROC at 50% Max: 5.42% Will generally look to take profit on the setup as a unit at 50% max, roll short call out at 50% max. * -- Long Call Diagonal.
AMEX:SPXLLong
by NaughtyPines
SPXL - SPX - Were not done yetOn the SPXL I can see using TA plus fibs that it looks like another leg up is coming. Usually things don't top at the 1.4 fib but continue to the 1.618 fib. Doomers are out in full force which happens at every local bottom. Yes we are getting up here but doesn't mean we can't go higher yet and looking at my TA in addition to other stocks they all look bottomed out and ready for a move higher to keep the bull trend in tack. Yes yields are moving higher but stocks have moved higher with yields before... I don't see a top till end of January at earliest but learning more towards March/April. If BTC can continue up from here that would cement that timeframe for me. Lets see what happens.
AMEX:SPXLLong
by TheUniverse618
4
SPXL bouncing at .618 & .5 retrace area BOUNCE?MODs have suggested that I provide more detail about the picks I make. Sorry. I'm not as verbose as y'all, and I don't like things to be complicated. My trading plan is very simple. I buy or sell at top & bottom of parallel channels. I confirm when price hits Fibonacci levels. Bonus if a TTM Squeeze in in play. I hold until target is reached or end of year, when I can book a loss. So... Here's why I'm picking this symbol to do the thing. Price at bottom of channel (periods 52 39 & 26) Stochastic Momentum Index (SMI) near oversold level VBSM popped negative Price at near.618 and .5 Fibonacci level In at $159.7 Target is $173 or channel top Stop loss is $153
AMEX:SPXLLong
by chancethepug
SPXL - Rising Trend Channel [MID -TERM]🔹POSITIVE signal from the rectangle formation by a break up through the resistance at 86.23 and next resistance 113. 🔹Between support at 75 and resistance at 95. 🔹Technically positive for the medium long term. Chart Pattern; 🔹DT - Double Top | BEARISH | 🔴 🔹DB - Double Bottom | BULLISH | 🟢 🔹HNS - Head & Shoulder | BEARISH | 🔴 🔹REC - Rectangle | 🔵 🔹iHNS - inverse head & Shoulder | BULLISH | 🟢 Verify it first and believe later. WavePoint ❤️
AMEX:SPXLLong
by wavepoint99
SPXL - Breakout Ceiling of Falling Trend Channel- SPXL has broken the ceiling of the falling trend in the medium long term, which indicates a slower initial falling rate. - SPXL is moving within a rectangle formation between support at 62.45 and resistance at 83.75. - A decisive break through one of these levels indicates the new direction for the stock. - The stock has marginally broken up through resistance at 75.00. - Overall assessed as technically neutral for the medium long term. *EP: Enter Price, SL: Support, TP: Take Profit, CL: Cut Loss, TF: Time Frame, RST: Resistance, RTS: Resistance to be Support LT TP: Long Term Target Price *Chart Pattern: DT - Double Top | BEARISH | RED DB - Double Bottom | BULLISH | GREEN HNS - Head & Shoulder | BEARISH | RED REC - Rectangle | BLUE iHNS - inverse head & Shoulder | BULLISH | GREEN Verify it first and believe later.
AMEX:SPXLLong
by wavepoint99
Are we about to make a measured move higher?Of course this is a leveraged ETF, but the underlying indexes, SPX, and futures, /es both look the same. The context is as follows: I looked for previous years where the S&P500 had a large drop, and then formed a flat top wedge over the coming months. I found 3 instances that you can see annotated in the charts. If you examine these formations you will see that in each instance the Index broke out and made a measured move upwards. What is a measured move? Measure the thickest part of the wedge to get a % gain. When the underlying security breaks out of the narrowest part of the wedge it will often move the same percentage upwards. In our current scenario we have made a 50% move this year in SPXL and formed a flat top wedge pattern. If this pattern can be broken to the upside another 50% gain will take us up to a price target of119+/- There is still a wall of worry out there, and anything could happen, so take this with a grain of salt. Stay tuned for further updates...........
AMEX:SPXLLong
by Sacyourking