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Before the update for game plan + levels, I wanted to talk about something I’m very excited about. It’s on the below topic:

It can challenging to profit on options or maintain consistency.

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In yesterday’s letter, I wrote:

This is what happened. We never ended up needing to test the 4742 overnight or in the AM. After chopping we finally blasted off, hitting a high of 4790.8, just below the 4791 level. While we did not quite get to 4797, I only missed the high of day by 20 cents on SPX and 1 cent on SPY.

See how well the levels work?

k9/gc keeping me honest!

All time high on SPY is 479.98, we were only 2.53 shy of this mark at one point today.

Now that we’ve continued to put pressure on the upper part of this range and clearly defended the bottom, what levels tell us we are still on the path to new all time highs? What must hold levels are below us and what could CPI bring?

More in the trade plan below.

The 1DTE $SPY 476 calls ran from a low of $94 to $276 = 194% gain.

I traded these from $140 to $154 called out in the chat and then reentered on a dip at $135 to $265 for 96% at best sale. Honestly I really didn’t get a good entry even though I had the right read. We were so choppy in the AM with very little follow-through. 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 terrific. Once we defended (didn’t even need to test) the must-hold level and we started the rally higher we knew where we were headed. Unfortunately, knowing where we are headed and knowing how long it will take to get there are two different things as we chopped significantly in the morning. Once we made the move though we ran hard all the way through first & second targets from yesterday. Always trust the levels!

Now we are sitting in AH right on the 4784 key 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.

A higher high and higher low on the daily. Do we have the power to push through the top of this range and hit new ATH?

Quick volume check:

Volume has been consistent and would like to see a day like today on even greater volume to confirm participants are willing to step in on the buy side at these levels.

Tomorrow the big event is CPI in the AM and there is a 30 year bond auction in the afternoon.

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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