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BA 190/170 May put vertical spreadTrade thesis - technical breakout (bearish) - downward break out of 3 months consolidation zone - weekly stochastic showing more room to downside - entry trigger: retest of demand zone and failure to hold above (wicked into the zone and closed below on daily) Position - strategy: put vertical - structure: long 05/19 190p short 05/19 170p - cost: $450 - delta: -19.68 - theta: -2.311 - gamma: 0.54 - vega: 10.15 Targets - 1st target: $190.50 zone (previous gap fill) - 2nd target: $173-169 zone HVN from post covid to present confluence of .5 retracement level from previous low to recent high - SL target technical: weekly close back into consolidation zone discretionary: price action at key price levels discretionary: price action when stochastic enters oversold level (below 20)
NYSE:BAShort
by EqEx
$VIX - Something is brewingIn my previous post, I outlined where $SPY rejected off the bear flag resistance. You'll see that those two times correlate with the two times $VIX tested pennant support. With the third VIX retest, we may see $SPY near my gray TL of ~$400 (see related idea linked). I'm still expecting another leg down, and will take a short position if I see optimal R:R (I'll update). No doubt, today was a boring day for $SPY. As I outlined in my update above, staying patient and understanding the right time to execute is what'll get you the W. Good luck!
TVC:VIX
by theapearmy
$SPY - Watch for another leg downI plan to WIN on this upcoming trade with optimal risk-to-reward: I pointed out yesterday that we'll see slow upward movement on $SPY. I'm still expecting another leg down, and will take a short position if I see optimal R:R (I'll update). In my subsequent post, you'll see that the two times $VIX tested pennant support, $SPY rejected off the bear flag resistance (in this graph). With the third VIX retest, we may see $SPY near the gray TL of ~$400. I'm waiting for this likely scenario to take my short and am holding my long stance.
AMEX:SPYLong
by theapearmy
GOLD Barrick Gold Options Ahead of EarningsAfter we hit the 1st price target in the last chart: Now you should know that GOLD, Barrick Gold Corporation, is the usual suspect against the higher inflation numbers. Looking at the GOLD Barrick Gold options chain ahead of earnings , I would buy the $18 strike price Calls with 2023-3-17 expiration date for about $0.81 premium. If the options turn out to be profitable Before the earnings release, I would sell at least 50%. Looking forward to read your opinion about it.
NYSE:GOLDLong
by TopgOptions