Taking advantage of the bearish market movement today.
$SPY still holding above support area of 106.
Taking a gamble, because I think market is still bearish. Down .85% so far today.
But $DIS had strong move yesterday, so I think today are people taking profits.
As long as it holds 106, I am 75% confident we will have a good day next week.
Other 25% depends on the general market next week.
I am going for a 1:2 risk reward ratio.
Bought to open 110 april calls w/ 37 DTE
Risk was selective, below previous low of 102.75
Possible 100% return at 112, therefore target is 112
$SPY still holding above support area of 106.
Taking a gamble, because I think market is still bearish. Down .85% so far today.
But $DIS had strong move yesterday, so I think today are people taking profits.
As long as it holds 106, I am 75% confident we will have a good day next week.
Other 25% depends on the general market next week.
I am going for a 1:2 risk reward ratio.
Bought to open 110 april calls w/ 37 DTE
Risk was selective, below previous low of 102.75
Possible 100% return at 112, therefore target is 112
