alleytrader

SPY short trade setup

Short
alleytrader Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
We have reached the top of the formation on the chart and is the area I have been looking at for retrace, so added a bit of short puts for a possible swing short next week.
Comment:
Today's buy is very low risk longer term gamble. As a swing this is not a triggered trade and will post when it is.
Comment:
I put about 50% chance this trade even triggers. The puts I bought will be worthless, will look on Monday if i can create a spread to get a little back.
This market is very back and forth so don't just want to close. But unless something changes will not commit more $ to this.
Order cancelled:
Will reset idea when I see it being possible again.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.