SPX ENTERING A ZONE OF INFLUENCE... TIME IS CLOSE...3/31- 4/06
APR 4 SPY WEEKLY OPTION STRADDLE Here's a straddle for no particular reason other than we are between support and resistance and one might not hold 206 and 207 APRIL 4 SPY STRADDLE SPY APR 8 208 C @ $.33 SPY APR 8 203.50 P @ $.30 Equal amounts invested in each TOTAL COST .$.63 RISK DISCLAIMER Options involve risks and are not suitable for everyone. Option...
I'm starting to (many are) think about positioning for the next long vix (long uvxy etc.) market (short) cycle. Not saying it's here, yet but many are starting to put on protection. CNBC had a good segment on options action friday 4/1 it folds into this. Last bounce for the big cycle was when vix was lingering in the 12's and dipped quickly into the upper 11's. ...
NEWS EVENT SPY STRADDLE JOBS REPORT 80% OPTION PRICES UPDATE SPY APR 1 207 CALL BOUGHT AT $.30 NOW $.01 SPY APR 1 205 PUT BOUGHT AT $.30 HIGH FOR THE DAY SO FAR $1.10 Equal dollar amounts invested in each $.60 cost $1.10 Combined high for the day so far 80% profit High was just after the open of trading. A trailing stop would have locked in those profits
SPY NEWS EVENT STRADDLE JOBS TODAY AND TOMORROW SPY APR 1 207 CALL @ $.30 SPY APR 1 205 PUT @ $.30 COST $.60
If it breaks above the blue and teal lines, it can go bullish for a while.
S&P saw a slight pullback from as buying as demand contracted. In the process cumulative selling gained some momentum; however, prices managed to close higher. This indicates that the market appears to be in "strong hands." Note prices are still finding support along the "mean" of Andrew's Pitchfork. The bullish trend remains intact. I speculate there will be...
Triangular geometry was designed to take on Keynesian markets.
How the AVERAGE of SPY, QQQ, IWM &DIA and the AVERAGE of CL1! & NG1! have performed against one another.
SPY range and price pattern
SPY closed near the high of the days regaining greater than 50% of Friday's bullish close. Still no presence of sellers. $203 gap and price target coincides with 161.8% Fibonacci retracement. Looking for "climatic" volume before considerating a short entry.
SPY "markup" continues as sellers remain absent. On watch for "climatic" volume to mark signs of a "stopping" action and transition to distribution. Target is the "$203 gap the coincides with 161.8% Fibonacci retracement.
IWM buyers appear to be attempting to "absorb" supply." No gross selling pressure noted. Accumulation and Markup thesis intact. A test of demand between $101-$103 would allow bullish bias to remain intact with $116 target. Anything below $101 and the world is coming to an end!
QQQ is trading into several levels of resistance to include a declining time cycle. Greater selling pressure noted on the downcycle compared to current upcycle
Taking some risk off the table while I can ... . This was part of a layered on arrangement I had in QQQ in the March expiry, much as I did with SPY. Here's the trade chain from head to toe: 2/2 Sold March 18th QQQ 94/97/109/112 iron condor for a $110 credit 2/2 Sold March 18th QQQ 93/96/108/111 iron condor for a $112 credit (Don't ask me why I sold two setups...