Market Analysis Follow-up  SPY ran up the flag pole before the opening bell, hitting a major resistance area, as identified this morning with Ahren’s deep dive analysis. A sudden drop with a bounce at 506 pushed it back to 507, then back down to see some profits on puts. Our trades are as follows: Pick of the Day: 506 puts from 4.30 at 9:31 to 4.55 at 10:35 for tis 6% gain. Those who stayed with it saw this option ramp up to a high of 6.00 at 12:46. Out of the Morning Gate: 507 calls to trigger at 9:40 for 5.26. We’re still holding as it’s set to expire on May 3 and in the midst of earnin ..read more

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April 24, 2024 Today’s Pick SPY240503P506 Disclaimer:  Options trading is risky. You alone are responsible for your own trades. Read Characteristics and Risks of Standardized Options before trading. Reading the Code (Example): SPY240328C520 SPY: stock symbol 24: expiration year (2024) 03: expiration month (March) 28: expiration day (28th) C: C for calls, P for puts 520: strike price (520) Trader Rules: Rule 1: We look to buy within the first 2 minutes of the opening bell, soon after the bid/ask spread tightens up. If the stock is going against us at market open, we like to wait for it t ..read more

April 24th, 2024 (9:00) SPY is near the close from yesterday as traders and investors are digesting news and earnings reports coming out this morning. Core Durable Goods Orders m/m came in at .2% vs .3% expected, and Durable Goods Orders m/m came in at 2.6% vs 2.5% expected. We also have Crude Oil Inventories at 10:30. Earnings from Tesla has shot up the stock nearly 10% in pre-market trading as the automaker has said they are working towards an affordable EV option in the 2nd half of 2025. Today you will see earnings from Meta Platforms, IBM, General Dynamics, and others. Going forward, the m ..read more

Inner Circle Tuesday Night Webinar April 23, 2024 CLICK HERE View Recording Here Have a great rest of your trading week! The post Weekly Meetup Recording appeared first on Day Trade SPY ..read more

Market Analysis Follow-up  This morning’s economic news, coupled with strong deep dive support was enough to move SPY northbound to test pivot R2 at 506, despite premarket indicators that we may see a bounce off a double top on longer term charts. It appears that earnings moved markets today, coupled with lower than expected PMI reports. Our trades are as follows: Pick of the Day: 502 puts, squeaked by from 3.28 at 9:30 to 3.48 by 9:34 for its 6% gain Out of the Morning Gate: 503 calls from 3.45 at 9:50 to 3.66 by 9:55 for its 6% gain DTS Signal: 504 calls from 3.24 at 10:07 to 3.41 at 10 ..read more

Inner Circle Weekly Meetup   YOU’RE INVITED!    Register Here Bring your questions and comments. Please join us! The post Inner Circle members… see you tonight! appeared first on Day Trade SPY ..read more

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April 23, 2024 Today’s Selection SPY240426C504 Disclaimer: Options trading is risky. You alone are responsible for your own trades. Read Characteristics and Risks of Standardized Options before trading. Reading the Code Example (Not Today’s Selection): SPY240419C501 SPY: stock symbol 24: expiration year (2024) 04: expiration month (April) 19: expiration day (19th) C: C for calls, P for puts 501: strike price (501) Trader Rules: Rule 1: We look to buy within the first 2 minutes of receiving the trade. If you missed the time window, hold off until you get the next trade. These trades are meant ..read more

April 23, 2024 Today’s Pick SPY240426P502 Disclaimer:  Options trading is risky. You alone are responsible for your own trades. Read Characteristics and Risks of Standardized Options before trading. Reading the Code (Example): SPY240328C520 SPY: stock symbol 24: expiration year (2024) 03: expiration month (March) 28: expiration day (28th) C: C for calls, P for puts 520: strike price (520) Trader Rules: Rule 1: We look to buy within the first 2 minutes of the opening bell, soon after the bid/ask spread tightens up. If the stock is going against us at market open, we like to wait for it t ..read more