SPY TAKING A BREAK

25 ก.ค. 2023

This is my last post for awhile I’m taking a break from the market I don’t know if it’s the heat or just tired of hearing stocks and market talk but I’m burnt out, I felt it yesterday and today at lunch I had to change Bloomberg and put on music. So tomorrow is the big day to move the sentiment of the market we finally get some idea for the next couple of months along with earnings. So how to play it. First off the IV will be high for options so be ready for that second have your personal profit margin in mind be real with yourself. Set the buy order as price will be moving fast I recommend using money you are willing to lose 100% if you put in a stop loss it will trigger quickly, so buy order and sell orders fast you can make 100% in seconds or minutes. Fade the first candle on the 3 minute chart if it’s red buy calls green buy puts. Right at 11 Pacific time the whipsawing starts for about 5 to 10 minutes but the real action starts at 11:30 when Powell talks and robots are picking up key words this is when the money is made. I normally buy @ 10:50 if I have an idea which way to go then again at 11:20. During the day I’m expecting chop all day until 11 so don’t buy early theta will crush your premiums. If this is your first FOMC day just watch the action and learn. If we rally up or down Thursday is normally the opposite so there’s action on that to at the end of the day for cheap premiums. Please have a plan and stick to it this is not for rookies Let me know if you have any questions below
As always trade what’s in front of you good luck