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PT_Marche
Jan 11, 2021 8:39 PM

SPY -- hedge entry Short

SPDR S&P 500 ETF TRUSTArca

Description

Per one of EW counts I have, currently has price up around a top of a wave 3 (Roman numeral blue circle). As market is up at highs and in a wedge pattern area, I'm hedging a bit as I think there could be a small pull back.

Gameplan:
- entered a put debit spread at the money in SPY and gave myself time
- price targets down at $374 and then $368

Keeping this one really simple
Comments
SwissVegaPhyle
In that case, I’d hate to see what complicated is
PT_Marche
@SwissVegaPhyle, I'll be better at clarifying when I say little comments like that! Re-reading my post, I don't even know why I threw that in there haha
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