2 Cards Charging 0% Interest Until 2026

Paying down your credit card balance can be tough with the majority of your payment going to interest. Avoid interest charges for up to 18 months with these cards.

Learn More

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

There seems to be some confusion as to the premium subscription and the discord chat. If you are premium and you do not have access to the “Premium Members Only” channels including “members-only” please authenticate yourself in the “bot-request-premium” chat. Or send me a DM in the discord!

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 bottom of premium content: Trading Plan section below.

In Friday’s letter, I wrote:

This is what happened. The market opened with some volatility, but we managed to defend the key level of 5720, dip below and defense, allowing for a solid long position on the dip. Throughout the session, we attempted to push past 5740 multiple times, but just couldn’t do it-high of 5741 just above!

We ultimately got as low as 5696—just above the 5690 level where I had indicated we might need to short if we lost momentum.

See how well the levels work?

After testing these critical areas, it became clear that the market sentiment was cautious as we approached the election returns. With another failure to reclaim resistance above and dipping further, what does this all mean for the rest of the week? What levels are must hold to prevent a major sell off and what resistance above will trigger a squeeze much higher?

More in the trade plan below.

Below, we’ll cover the actionable levels, how I played them today and what they mean for the next session.

Overall, we saw the levels hold quite well, as we continually attempted to breach 5740 while also maintaining the support at 5720. The market's behavior today has set the stage for what lies ahead. The defense at 5720 was a great long entry. Always trust the levels.

Now we are sitting in AH right above the key 5716 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.

If you are enjoying this letter, consider sharing with a friend! We even have a referral program where you can earn free subscription time for referring others that sign up for a paid subscription.

Trading Plan

We had a doji candle closing near the lows on lower volume as all await election results—this could significantly impact market sentiment and direction in the coming sessions. Keep your strategies flexible and be ready for potential volatility as we process the incoming data!

Tomorrow we obviously await the outcomes of Election Day, but we also have PMI and the 10-year bond auction to keep an eye on.

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.

Subscribe to Premium to read the rest.