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In yesterday’s letter, I wrote:

This is what happened. Overnight we lost 5435 and after a dip at the open all the way down to a low of 5390.95 (virtually at the 5389 target above) we bounced and bounced hard. Running all the way up through 5435 reclaim and hitting a high of 5491.59 (over 100 point range) just past the 5487 target listed above.

Then, we came full circle down almost to low of day near the 5389 level again.

See how well the levels work?

A wild seesaw session on the heels of the worse % decline in over a year, where do we go from here? What does volume indicate and what levels above and below must be hit to confirm the next direction?

More in the trade plan below.

The $SPY 0DTE 545 calls ran from a low of $13 to $287 for 2,108% gain.

I traded these from $30 to $95 for 217%. This was after a losing short trade in the AM. Because we had lost 5435 and were running lower, I used the first decent bounce to short. This ended up not working out so well. Within 5 minutes of entering the short I was already indicating it may have been a bad read:

When I had entered short I indicated where I would exit. If we had regained ES vwap and reclaimed 5424 SPX. I entered the calls above as a hedge before this happened and once it was confirmed we had reclaimed 5424 I was out of the short and only in the calls I had opened. These ended up saving a red 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.

We lost 5435 and that triggered a decent drop to 5390. Once we reclaimed 5435 again it was off to the races and we blasted to 5491. Then, we lost it all again in the afternoon. What a wild session. Always trust the levels!

Now we are sitting in AH right above the key 5405 support level. What does this 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 1/5 & all overnight action.

After a decent bounce, we lost it all and more.

Quick volume check:

Greatest volume of the year. Has capitulation taken place?

Tomorrow we have PCE prior to the open and consumer sentiment and inflation expectations post open.

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

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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