I'm always bullish on SPY. It's an ETF designed to always gain value.
Knowing this information I like to play strategies that involve exploiting dips. Currently on the 1HR chart we're seeing that it might break the downward pattern.
It is visually represented by the green ascending cloud and then a red cloud on the dip. The VIX is a little higher this morning but ideally I like it over 23 to Sell Credit Spreads.
If the market is neutral I might do a Calendar Spread. If it dips I buy the Sold Call back for a profit and then keep the LEAP until profit target is reached.
Godspeed Traders!
Knowing this information I like to play strategies that involve exploiting dips. Currently on the 1HR chart we're seeing that it might break the downward pattern.
It is visually represented by the green ascending cloud and then a red cloud on the dip. The VIX is a little higher this morning but ideally I like it over 23 to Sell Credit Spreads.
If the market is neutral I might do a Calendar Spread. If it dips I buy the Sold Call back for a profit and then keep the LEAP until profit target is reached.
Godspeed Traders!
Comment:
Gap Down right at 7am. Beautiful. Will be watching this dip to Sell some Credit Spreads.
Comment:
Made a trade yesterday for an Iron Condor Exp: 10/15.
I believe within the next week or so the market should correct and the VIX come down. The spreads will lose width and combined with the time decay it should be a nice profit.
Godspeed traders!
I believe within the next week or so the market should correct and the VIX come down. The spreads will lose width and combined with the time decay it should be a nice profit.
Godspeed traders!