Taking advantage of the bearish market movement today. SPY still holding above support area of 106.
Taking a gamble, because I think market is still bearish. Down .85% so far today. But DIS had strong move yesterday, so I think today are people taking profits. As long as it holds 106, I am 75% confident we will have a good day next week. Other 25% depends on the general market next week.
I am going for a 1:2 risk reward ratio. Bought to open 110 april calls w/ 37 DTE Risk was selective, below previous low of 102.75 Possible 100% return at 112, therefore target is 112