$SPY up to $614 as final blow off top move?

1 พ.ย.

I initially thought we'd see a move down of 5%-10% pre election. I played the move through UVXY calls.

We didn't end up seeing the full move play out that I had expected, but was able to capitalize on the move down yesterday when UVXY was above $30. I sold all my calls yesterday as I expected downside to only be possible prior to Nov 1. So far, it's looking like that was a good call as we're starting to see a bounce today.

Now that we've in November, I expect a bullish move to play out through the election and after for a final blow off top.

I think it's likely that we see a move to $614 over the next two weeks.

I'll be buying 600C today for 11/15 to try to capitalize on this move higher.

Let's see if it plays out.

1 พ.ย.

บันทึก

Bought
40 contracts of 600C for 11/15
200 contracts of 605C for 11/15

4 พ.ย.

บันทึก

Added another 50 contracts to both

5 พ.ย.

บันทึก

Brought my position totals to:
91 600C 11/15
250 605C 11/15
167 606C 11/15

Looking good so far. Let's see.

7 พ.ย.

การซื้อขายยังคงดำเนินอยู่

The move should play out by next Wednesday 6/13. It may surpass target up to $617-630 as a strong blow off move.

7 พ.ย.

บันทึก

Added 100 607C for 11/13 at .24 this morning.

11 พ.ย.

บันทึก

Looking like today is the day we break $600, will likely start scaling out of these positions towards the end of the day.

11 พ.ย.

บันทึก

I ended up selling because it looks like we're going to pull back.
91 600C 11/15 +574.91%
250 605C 11/15 +321.80%
167 606C 11/15 +410.81%

New idea is that we bottom tomorrow and then CPI is what gives the last leg higher on Wednesday.

I'll share my positioning tomorrow.

11 พ.ย.

บันทึก

Sold these ones at a loss.
100 607C for 11/13 -49.98%

Overall solid trade.