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TanukiTrade
Mar 12, 2021 10:17 AM

S&P500 Long Call Vertical 66% Probability Of Profit Long

SPY+0.000000000000001*SPX+0.000000000000001*ES1!+0.000000000000001*US500Arca

Description

I've played yesterdays some S&P500 with vetical spread.

(1) RSI in the middle zone

Any direction is possible



(2) Forming a bullish triangle - again



Similar cases in the past one year:



(3) There is a little more space to the upside



(4) Relative Implied Volatility is low



So I'm choosing a debit strategy.


CONCLUSION:

I'm using LONG CALL VERTICAL -

Buy 1 SPY April16' 375 Call
Sell 1 SPY April16' 380 Call
Debit call spread for 4.12 debit

Probability of Profit: 66%
Profit Target relative to my Buying Power: 21%
Max profit: 88$
Max loss at expiry: 412$ (Buy Power)
Max loss with my risk management: ~95$
Tasty IVR: 4.8
Expiry: 36 days

Stop/my risk management: Closing immediately if daily candle is closing below $379

Take profit strategy: I'm taking at the 55% of max.profit in this case with auto sell order. (at 4.56 credit)


If you liked this article, check my other ideas.
Anyway: HIT THE LIKE BUTTON BELOW, and follow my fresh ideas ( @mrAnonymCrypto on tradingview ).

Trade closed: target reached

Trade closed at target profit in 2 weeks.
10% profit on my capital.
Comments
gunit20130605
very risky setup.
TanukiTrade
@gunit20130605, why? With closing immediately if daily candle is closing below $379 - I'm risking max of the profit. (in this case ~80$)
PJSantorin
66% probability of profit doesnt exist in the stock market, its always 50/50
TanukiTrade
@PJSantorin that's why I'm trading with options: there is exists even 80% PoP trades too. I'm recommending to learn option strategies before commenting about option trade ideas. 😅🤡 cheers
PJSantorin
@mrAnonymCrypto, been looking for a way to trade options but etoro doesnt allow it o.o
TanukiTrade
@PJSantorin, etoro is not good anyway.
Use TastyWorks to do that things.
On their youtube channel there is "Tasty Mike and his whiteboard" series. Start with that for edu. (~150 videos)
samitrading
Like your set ups keep them coming bud.

wish you the best.
TanukiTrade
@samitrading, Thank you :) Feel free to follow me on tradingview for any option trade analysis in the future, make any discussion, etc. ❤️
samitrading
@mrAnonymCrypto, Fabulous mate.

wish you the best.
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