Option Strategies: MU, META& .SPX
Hello everyone! Today i want to share some trading strategies with you!
1
$S&P 500(.SPX)$ TRADE PLAN 📈 📉
SPX bullish plan: SPX above 7500 | SPX July 30 7550C 📈 T: 7546, 7576 SL 7468
SPX bearish plan: SPX under 7400 | SPX July 30 7300P 📉 T: 7333, 7300 SL 7438
SPX dropped from 7525 to 7396 this past week.
If SPX fails to defend 7400 after FOMC we can see a dip back to 7233 again.
Puts can work under 7400 this week.
If SPX pops up to 7468 and fails to hold, puts can also work.
I'd wait for more positive news flow on the macro side before considering calls again.
2
Trade Idea: July 31 550P
Trigger: 600 ✅
Targets: 544, 530 🎯
Stop: No SL 🛑
META reports their earnings on Wednesday after the close.
There's a 50 pt move priced in for this earnings.
GOOGL already reported and had a negative reaction.
If META follows, we can see META dip to 544, 530 after earnings.
3
Trade Idea: July 31 820P
Trigger: 900 ✅
Targets: 851, 821 🎯
Stop: 940 🛑
Keep an eye on 821 this week.
If we see this level fail after FOMC, MU to 651 in play.
Once 651 comes we can start to see more panic in the Memory/Chip/AI sectors.
651 is a huge buy zone for a long term hold.
Puts can work under 900 this week.
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