Monday June 12 2023 SPY SPX ES Actionable Levels

Don’t miss the Topic Directory - Getting lots of questions that are answered in here

Also - if you missed it - join our chat during market hours for premium subscribers. We are now leveraging discord for this. Link is at the very top of premium content below.

In yesterday’s letter, I wrote:

Well $SPX would agree because we did do all of the above and hit a high of 4322.62, .38 cents off 4323 target.

Then we sold off and then had a mid-day bounce but never got back to highs.

With next week’s volatile data filled week, where does that leave the current breakout trade?

More in the trade plan below.

The 7DTE $SPY 430 calls ran from an AM low of $291 to AM high of $421 = 45%

And a PM low of $242 to PM high of $334 = 38%

I traded these originally from $398 to $415 in the AM, then $258 to $326 in the afternoon. Biggest issue was the strong open. Because I don’t chase I kept waiting for a better entry, but finally found a dip to enter after we had rallied so far! This kept the first trade to a minimum core position exit and then stopped out for breakeven on runners. Second trade was much better as we had tested the local low several times and then ran up again (not as far as I would have liked though!). 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 last night were amazing (15 min chart). They guided me that if we held the levels indicated above that we would rally up to the targets that we hit. Trouble was this all happened into/after open so fast that I couldn’t participate in most of it. What a day to have already been in a position! Always trust the levels!

Now we are sitting in AH right on the 4303 support 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.

Subscribe Now

Subscribe to Premium to read the rest.