.SPX: Just to Kill the Volatility and Earn the Premiums
Hello everyone! Today i want to share some trading ideas with you!
1
$S&P 500(.SPX)$ still aiming at 6710 zone, however, the zigzag formation yesterday gives rise the second option--BLUE PATH, for later this week.
Either way, bulls are NOT out of the woods yet, which means the bottom at 6473 still may get retested later--that test, SHOULD PINPOINT THE LOW.
Blue Path [adjusted] NOW.
The high of rebound is 6635, missed by a point.
The sideway chops would ran through the rest of day, between 6600 and 6540.
DMA200=6630 and it is still a tremendous resistance level.
Blue Path Confirmed.
No breakout until tmrw or Thursday, most likely to upper range at 6685-6700.
Won't trade much today, as there is no better entry for either direction.
Chopping zone between 6540 and 6620, and would be the case for a while.
Option premiums too high.
As boring as you may get, just to kill the volatility and earn the premiums.
Expect a last 30-min fast move to fill the gap?
Anyhow, if this pattern is valid, then the dotted line should contain all the chops till Friday.
Bought some odtx puts, very tiny amount, for fun.
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