Thoughts of a 4k SPX, US500, or a 400 SPY. Check your toilet
On the 15 minute minute as well as all others of any given time frame, you can see the channel this is trading in. It appears to me that this channel will not break. cure for cancer? NOPE! Friendly advanced civilization on Mars? Nope!
I post this as a guide for my new trading friends. When playing the options game, in the money or way way out of it, always nice to know your path. Be careful of Theta burn!!
As the price bounces between the Yellow lines, understand that the price difference starts to taper. Watch the US500 to get some kind of direction of how the next day will go. Wait for conformation in the mornings premarket. If it's at the top of the wedge, you can better believe the price will fail, look at puts this day, or selling calls to open. At the bottom of the channel, look for calls within the price range of the yellow lines. Try not to hold overnight, unless there is a definitive track either direction. As time goes by, you can bet the safer you will be holding into the overnight. This is due to the tapering. In this current chart, I see no mega moves, and may be time to look forsomething else to spend your hard earned money on.
To
Shawn L, Krystal R, and Darci T
Thanks for being there!
I post this as a guide for my new trading friends. When playing the options game, in the money or way way out of it, always nice to know your path. Be careful of Theta burn!!
As the price bounces between the Yellow lines, understand that the price difference starts to taper. Watch the US500 to get some kind of direction of how the next day will go. Wait for conformation in the mornings premarket. If it's at the top of the wedge, you can better believe the price will fail, look at puts this day, or selling calls to open. At the bottom of the channel, look for calls within the price range of the yellow lines. Try not to hold overnight, unless there is a definitive track either direction. As time goes by, you can bet the safer you will be holding into the overnight. This is due to the tapering. In this current chart, I see no mega moves, and may be time to look forsomething else to spend your hard earned money on.
To
Shawn L, Krystal R, and Darci T
Thanks for being there!
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