$SPY $SPX - Key Levels, Analysis, & Targets

12 thg 4, 2022SPY SPX Goldman Sachs - Key Levels, Analysis, & Targets

OK. Wow… what a wild and fun day (for the bears)
I actually did a lot of rolling my positions around.

I rolled my 17 June long puts from 453 to 449 (same expiration) for a 1.80 credit (per contract). Then I rolled my 25 April 442 short puts to 11 May 435 for an additional 1.13 credit (per contract)
THEN, at the end of the day I really wanted to take advantage of the higher put premiums so I rolled my short puts all the way out to 17 June with my long puts to 433 for an additional 5.11 credit (per contract.) So awesome day.

So ultimately I collected a 8.04 credit, while my position itself gained 1.99 (per contract x23)

I am expecting a further down move still but honestly I could use a flat day to burn up some of that premium I collected today, BUT since tomorrow is CPI I think we have more down to go before this leg finds a bottom.

My plan for tomorrow? I guess we shall see how we open… but what I have planned is to roll my Long puts down and out (hopefully for a credit and it’s possible since I am quite ITM)
And then I want to roll my short puts down and out also for a credit. But I might use some of the credit from rolling my longs down to roll my shorts even further depending on how the day goes.

I hope I’m making sense.

Great day… and I still plan on shutting this position down around 418 - and even with that, we shall see… one day at a time here

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I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.

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