$SPX May be getting ahead of myself here :) $SPY $SPX #trading
So currently find myself in a long on $SPY $SPX that I entered at market close.
I purchased SPY June 21st Calls at the 281 strike & sold to open SPY June 21st calls at the 292 strike. - This is a vertical long call debit spread - the theta decay is incredibly muted because of the hedge leg of the trade - literally nothing for how quick I plan on swinging the trade - initial tgt is 2890.
If I am wrong it really won't matter too much because I believe we will rally off the old channel anyway. If I am wrong then I close out the long and probably will keep the hedge side of the trade to recover the cost of attempting this strategy.
Happy trading! Enjoy this late Friday night TA.
Hey when it comes to Monday morning - Go team bulls!!
What really pushes me over the edge confident in my long & dare I say it but I clearly see an inverted H&S...last time this happened I snagged a crisp +38% return. Think I'd settle for 50% this time! :D
I purchased SPY June 21st Calls at the 281 strike & sold to open SPY June 21st calls at the 292 strike. - This is a vertical long call debit spread - the theta decay is incredibly muted because of the hedge leg of the trade - literally nothing for how quick I plan on swinging the trade - initial tgt is 2890.
If I am wrong it really won't matter too much because I believe we will rally off the old channel anyway. If I am wrong then I close out the long and probably will keep the hedge side of the trade to recover the cost of attempting this strategy.
Happy trading! Enjoy this late Friday night TA.
Hey when it comes to Monday morning - Go team bulls!!
What really pushes me over the edge confident in my long & dare I say it but I clearly see an inverted H&S...last time this happened I snagged a crisp +38% return. Think I'd settle for 50% this time! :D
