See linked for analysis.
If the triple top will form we'd have to be late into the bullish section of the move.
Shorting 4735
Stop 4787
Target 4360
Some spike out might happen in a tricky topping pattern but if I get spiked out these I'll just come back in after seeing the rejection. Would prefer the earlier stop to being caught up in a breakout, especially a parabolic D leg style one in which it'd be much more efficiency to lose multiple trades shorting the different possible levels than being stuck in one bad one rocketing against you.
Also taking options positions. Shorting calls close to ATM and buying deep OTM puts. Looking to have a position that does not burn out in theta but does give me profit potential if there's a sharp drop and IV rockets.
Shorting 480 SPYc and buying 350p. Doing these for Jan/Feb/March.
Going to continue to build a short position all around the 4650 - 4850 zones in SPX. If the rejection from this zone comes, it could become a spectacular move.
If the triple top will form we'd have to be late into the bullish section of the move.
Shorting 4735
Stop 4787
Target 4360
Some spike out might happen in a tricky topping pattern but if I get spiked out these I'll just come back in after seeing the rejection. Would prefer the earlier stop to being caught up in a breakout, especially a parabolic D leg style one in which it'd be much more efficiency to lose multiple trades shorting the different possible levels than being stuck in one bad one rocketing against you.
Also taking options positions. Shorting calls close to ATM and buying deep OTM puts. Looking to have a position that does not burn out in theta but does give me profit potential if there's a sharp drop and IV rockets.
Shorting 480 SPYc and buying 350p. Doing these for Jan/Feb/March.
Going to continue to build a short position all around the 4650 - 4850 zones in SPX. If the rejection from this zone comes, it could become a spectacular move.
