SPY Volatility Is The New Normal
Another day in the books with volatility due to the war. SPY is still moving all over the place giving us lots of range and setups. Hard to get really strong trend on anything in just one direction. Good thing we have good rules in place to help us with this. SPY started out with some indecision and then we couldn’t reclaim the previous days close after a small gap down… once that happened it invited some selling into our 435, 434, 433.5, 431, 428 watchlist levels in short order. If you capitalised on this you made some nice bank. 430P went from 2.2 to a high of 5 at 431.
TGT Becomes The Target
TGT made our list after a gap up due to earnings… however in our opinion the earnings weren’t that stellar. We were looking for the gap up reversal.. One of our favourites. If you got short on the open risking vs our watchlist at 228 you caught a nice move.. Target moved all the way…. To well our target… dun dun dun…. Our 219 watchlist level. We took commons on this one and with 1-2 points of risk we got 10 points of gain… nice 1:5 risk reward!
AMZN Afternoon Delight
AMZN provided us a nice little short after lunch we had broken our 3055 watchlist level and came back for the re-test right around 1 o clock. Perfect low risk short opportunity. The 3000P went from 32 to 50 right at our 3015 watchlist level.
TSLA Morning Continuation
TSLA continues to provide range and opportunity. It didn't end up finding support at any of our watchlist levels but I noticed the consolidation and we took it long around 860 in the morning madness. The 900C went from 10 to 20 in short order… I love when TSLA is moving.
Two Hour Trader Student Results
Member mylabo2 achieved a solid 2% on COIN and SPY puts. Slow and steady wins the race.