Potential reversal trade next week
This week was a brutal week for traders if you did not hedge your longs.
SPY is closing the oct 14th 2021 GAP during afterhours as I am typing this up.
I expect price to bounce around 436.74 and head up from there.
For this trade :
-Buy calls when price breaks and closes above 447.87
-Sell some at PT 1
-Sell some or ALL at PT 2
-Remember this might be a dead cat bounce so be careful when holding past PT 2
-Let the rest ride and sell when you see signs of reversing
I am holding LongSPY options
SPY is closing the oct 14th 2021 GAP during afterhours as I am typing this up.I expect price to bounce around 436.74 and head up from there.
For this trade :
-Buy calls when price breaks and closes above 447.87
-Sell some at PT 1
-Sell some or ALL at PT 2
-Remember this might be a dead cat bounce so be careful when holding past PT 2
-Let the rest ride and sell when you see signs of reversing
I am holding Long
SPY options
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