Get started
Eurocrem

SPY Triple Bottom

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
Eurocrem Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns SPDR S&P 500 ETF (SPY) china tradewar trade tariffs options
2
0
trendanalysis chartpattern spy china tradewar trade tariffs options
Potential for a triple bottom on SPY. Depending on incoming news later tonight/tomorrow morning, I suspect a large move monday. Technicals would suggest that spy should be making a move upwards towards 293. If 293 rejects, then down we go again. If it breaks and retests as support, then we may make new highs. However, with the fear in the market, it is hard to say that's going to happen....except, "be greedy when others are fearful?"...

Currently in a long straddle.
Comment:
Sold my put option to save 1/3 of premium.

Sold call option that expired Monday for profit.

Bought 287.5 8/30 call and 295 8/30 call.
Comment:
286 is good support, retested once again. Depending how the next couple of days go, I may sell my contracts and buy puts, only to re-enter as calls before a run up.
Comment:
Sold calls, in puts.
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.