Today Brexit vote failed to pass. The market is hot and pushing back into the head and shoulders neckline that we broke down weeks ago. If you look closely, there is a gap that needs to be filled near 263.80-264.40 (purple box and arrow points towards it). Im long SPY JAN 23rd 264 Calls. Im planning on selling this by Friday or before it. Timeline for this trade will be 3 days or less. I think the market has momentum from the brexit fail and a lot of shorts will be squeezed.
Trade closed: target reached:
Exactly as planned.