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What we’re reading:

In yesterday’s letter, I wrote:

This is what happened. In fact, most of this had already played out overnight after this was written. Then, we got the final bounce off the 5059 target above around midday and then launched all the way to a high of 5094.

See how well the levels work?

Now that we broke out in a massive way, what is the must hold level to keep this move alive?

More in the trade plan below.

The $SPY 2DTE 506 calls ran from a low of $107 to $384 = 259% gain.

I traded these called out in the chat from $192 to $220. Unfortunately I did not leave runners long enough to participate in the majority of the move. I did scalp a 0DTE 505 call, entering on a dip that I wish I had held longer also. Oh well, two wins are better than none! Honestly it was slow and choppy until about noon when it finally picked up the pace and that’s right when I was done for the day! More in the trade recap below.

Below, we’ll cover the actionable levels, how I played them today and what they mean for the next session.

Levels from the prior letter were great. Once we broke the ‘must reclaim’ level it was over, the move up was decided. Always trust the levels!

Now we are sitting in AH right on the key 5086 resistance level. What does this all mean and where do we go from here? Read below for my trade plan which includes actionable support & resistance levels, outlook for the next session and today’s trade recap.

Learn the system to make 1-3 low risk, high reward trades per day using SPY/SPX options.

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Trading Plan

Here is a current check of the daily:

This includes all the way back to 6/29 & all overnight action.

We have broken out into a new range!

Quick volume check:

Breakout supported by higher volume - great!

I am receiving some great questions from beginners. This is helping me develop guides for this group as well as the course. More to come but I’ve created a separate channel in the discord just so you can not be shy about bringing those questions to the group. No question is dumb, we grow stronger together!

In fact, I’ve created this single resource as a guide. It is a living document and we will continue updating it. You must be logged into the site to read it:

https://letter.spyoptionsactionablelevels.com/p/strategy-guide-the-basics

Tomorrow we have a very light day - no scheduled data or speeches that I am aware of.

As readers know trading after a massive move in either direction is risky.

Trying to predict when trend will break is a fool’s game because the trend can be stronger than you ever realize.

Going with the trend is hard because it has already run so far (or dropped) and move may be close to over.

All you can do is pick your entries carefully and with proper position sizing. Trading out 1-3 DTE or further also helps soften the blow.

Yes it will decrease the amount of profit but will greatly help keep you in a trade long enough to see return.

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