All indicators are turning Bearish on Daily - MACD, RSI, Fisher Transform. Everything is overbought.
Average downturn was 15 days last two times.
This is part of a very large ascending wedge which pattern suggests will fail sometime 2020.
Nov 18 Put at Strike Price is $250ish...but return to SPY 270 level turns $250 into $2900 :)
We probably get to SPY 290 which could be a double.
Nice risk reward. 1:10x
SPY down = GDX and VIX up. (and vice versa)
Just my opinion. Not financial advice.
Disclosure - I am long BTC, GBTC, GDX, and MARA. Puts - SPY. Calls - MARA, GDX, VIXY.
Average downturn was 15 days last two times.
This is part of a very large ascending wedge which pattern suggests will fail sometime 2020.
Nov 18 Put at Strike Price is $250ish...but return to SPY 270 level turns $250 into $2900 :)
We probably get to SPY 290 which could be a double.
Nice risk reward. 1:10x
SPY down = GDX and VIX up. (and vice versa)
Just my opinion. Not financial advice.
Disclosure - I am long BTC, GBTC, GDX, and MARA. Puts - SPY. Calls - MARA, GDX, VIXY.
Personally, think this going nowhere during elections with Republican stacked House.
But still...thought this was something to note. MSNBC, CNN, CSPAN coverage (just to show amount of coverage).