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

SPY 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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GL and happy trading.

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