Trades and discussions - Page 3
Been real hard for me to flip anything lately, the choppiness has beaten me up a little the past two days. I have a SPY July 134/133 strangle. Boom or bust region right here in my opinion. Either we break out of the inverse HS or leg down on the smaller head shoulder.
Markets a bit mixed, utilities and financials are normally the first things to start trading bearishly when we're anticipating a bearish event. However, if we are anticipating for a bearish event over the weekend I'm not seeing this type of movement. Or typical tech market leaders are stalling and sitting around or very close to support while financials and utilities aren't exactly stalling.
Looking at today's volume, there are a lot of puts being sold and not so many being bought up. While there's an influx of calls going out at ask or higher.
My theory is we could potentially run a little bit as a possible bull trap or to give a false impression of a break out of the IHS. Then followed by resumed selling next week.
yea i joined you on that trade.. also got the weeklys so if it tanks today, i'd look to exit, but I think this may go lower.. if 64.50-64.75 level gets taken out, 63 should come in sights shortly
Yep, although I wouldn't count on that. That 64.5-64.75 will be huge support.