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First Few Lessons Already Launched - Order Now

Order Now - Mastering Emotions lesson just launched 3/24 and new lesson this week!

This is a repost of Friday’s letter for Monday.

In yesterday’s letter, I wrote:

This is what happened. We actually had both scenarios play out between overnight, the open and then an hour into the session to the close.

First we did not need to retest 5207 or 5197 overnight. Launched all the way up to 5240 by the open and then sold it all off to a low of 5209 just above the 5207 level and then rallied (but mostly chopped slowly) back to a high of 5226.22, just below the 5228 target above.

See how well the levels work?

Now that we have chopped again, closed well off the highs of the session on lower volume, are we running out of steam? What levels must we hold or targets above paint the way forward for the next week?

More in the trade plan below.

The $SPX 0DTE 5235C ran from a low of $15 to $95 per contract = 533% gain.

I traded these from $20 to $50 after attempting a 5DTE long earlier in the day that I lost on. I was prepared to have it be a losing day but a loss allowed me (based on my personal rules) to attempt another. I waited until it looked like we could move higher and entered. I was able to take half off for a double at $40 and then took more off at $50. 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 fine. It was just a lot of chop and very difficult trading conditions. Catching the short out of the open was really the only great move. The defense of 5207 presented a long opportunity but the move was so slow you had to trade longer dated. Always trust the levels!

Now we are sitting in AH right above the key 5216 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 10/4 & all overnight action.

A higher high, higher low but we closed nearer to the lows then the highs of the day.

Quick volume check:

Volume still very low.

Monday we have a couple FOMC members speaking just prior/during the open, not much else.

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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