SPXS - Bearish SPY Alternative
Aktualisiert
I AM NOT ENTERED IN THIS TRADE
I will update on Monday 12/30.
Reading a chart from Unwind, he suggested to find a inverse SPY ETF. Credit to him for the suggestion.
I came across SPXS which is "3x inverse exposure to SP500 index" etf.com/SPXS
This idea is meant for bearish bias on SPY, considering we are at ATH's and capital gains starts in January.
If you have same opinion of market conditions, let me know what you think or if you have an alternate idea.
Chart Details
Price above $13.94 confirms bullish EMA cross.
10WeekMA around $14.60 – re-analyze bullish trend continuation or exit below trade for profit.
Entry Options
- Jan. 17 expiry. 12/17 Put Credit Spread. Take in $3.90 Credit (as low as $3.80). Max loss at $3.80 is $120. Max loss at $3.90 credit is $110. Max gain possible is $390.
Exit at 50% profit or your risk tolerance. Must exit before expiry.
One leg of this spread is 92% POP. Other leg is only 5%. Total is over 85% POP.
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
I am transitioning to my new website moneypatterns.com and will be updating my username here. Same guy - new name. :)
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD, GBTC.
I will update on Monday 12/30.
Reading a chart from Unwind, he suggested to find a inverse SPY ETF. Credit to him for the suggestion.
I came across SPXS which is "3x inverse exposure to SP500 index" etf.com/SPXS
This idea is meant for bearish bias on SPY, considering we are at ATH's and capital gains starts in January.
If you have same opinion of market conditions, let me know what you think or if you have an alternate idea.
Chart Details
Price above $13.94 confirms bullish EMA cross.
10WeekMA around $14.60 – re-analyze bullish trend continuation or exit below trade for profit.
Entry Options
- Jan. 17 expiry. 12/17 Put Credit Spread. Take in $3.90 Credit (as low as $3.80). Max loss at $3.80 is $120. Max loss at $3.90 credit is $110. Max gain possible is $390.
Exit at 50% profit or your risk tolerance. Must exit before expiry.
One leg of this spread is 92% POP. Other leg is only 5%. Total is over 85% POP.
About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
I am transitioning to my new website moneypatterns.com and will be updating my username here. Same guy - new name. :)
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD, GBTC.
Trade ist aktiv
Filled at $3.80. Jan 17. 12/17 Put Credit Spread. I will update with progress.
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