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What we’re reading:

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

In yesterday’s letter, I wrote:

This is what happened. We held the above levels, didn’t need to retest even 5072 and rallied overnight and into the open through 5086 and 5106 above to a high of 5111.06, right at the 5111 level provided yesterday.

See how well the levels work?

Then we chopped around and closed flat near the lows of the session.

Now that we held the gains made yesterday, what does next week have in store? What critical levels must we hold and targets above that point the way?

More in the trade plan below.

The $SPY 0DTE 509 calls ran from a low of $32 to $75 = 134% gain.

I traded these called out in the chat from $41 to $53 for 29%. I watched them go higher, but kept the stops loose on runners for potentially more and took the rest off at $49. Then I was done for the day as we were not moving! 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. Unfortunately, the nice move occurred overnight and we chopped in the regular session. Always trust the levels!

Now we are sitting in AH right on the key 5080 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.

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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 punched higher, then closed flat but held yesterday’s breakout!

Quick volume check:

Lower Friday volume.

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

Monday we have a very light day in terms of data- just new home sales data that I see after the open.

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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