The post Trading Room Video Recording – April 18 appeared first on Day Trade SPY ..read more

April 18, 2024 Today’s Selection SPY240419P500 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): SPY240315C512 SPY: stock symbol 24: expiration year (2024) 03: expiration month (March) 15: expiration day (15th) C: C for calls, P for puts 512: strike price (512) 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 18th, 2024 (9:00) SPY is up pre-market as traders and investors digest recent news items with Unemployment Claims coming in at 212k vs 215k, and Philly Fed Manufacturing Index coming in at 15.5 vs 1.5 expected. Today we continue with earnings from Netflix, Blackstone and others. Going forward, the markets continued to be risk averse. It appears we are filling in the gap from February 21st. I would be cautious on any longs. The Open gap should see a fill. Trade cautiously. Resistance: 502.50 Support: 497.50 Today in History: April 18th, 1991: The Dow Jones industrial average closed above ..read more

April 18, 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

A shout out to Captain Bob P. for his suggestion on implementing the “IMSAFE” program. Thank you! The Federal Aviation Administration (FAA) released this self-assessment tool for pilots, which is designed to help keep them safe. As you know, pilots use checklists for virtually everything. They check it all, even long before starting the engine. They even examine the color of the fuel to make sure it’s the right grade! This applies not just to their aircraft, weather, traffic and all phases of flight but also to themselves. After all, what is safe about strapping oneself in a fiberglass tu ..read more

Market Analysis Follow-up  SPY just could not break through to the up side, despite several attempts since premarket yesterday. Mostly technical trading kept prices at bay. Once investors lost confidence, SPY broke through support of 505, essentially collapsing to the lower 499’s, a price not seen since February 21st. It appears geopolitical forces in the Mid East are having an adverse affect on markets here. Our trades were as follows: Pick of the Day: 505 calls, bought at 9:30 for 6.47, still holding as we anticipate earnings. The expiration date for this option is next Friday. Netflix ..read more

The post Trading Room Video Recording – April 17 appeared first on Day Trade SPY ..read more

April 17, 2024 Today’s Selection SPY240419P505 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): SPY240315C512 SPY: stock symbol 24: expiration year (2024) 03: expiration month (March) 15: expiration day (15th) C: C for calls, P for puts 512: strike price (512) 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 17, 2024 Today’s Pick SPY240426C505 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 16th, 2024 (9:00) SPY is near the close from yesterday as traders and investors are looking at earnings releases this week, as there are few news releases today. Iran has warned Israel to not respond to their attack of over 300 missiles on Saturday, and mentioned any attack would be met with ten times the force. Earnings today include Abbott Labs, Prologis, Travelers, and others. Going forward, we are seeing some technical support overnight at fibonacci extension. I would anticipate a slight retracement from up from the initial drop, but trade cautiously as geopolitical tensions have ris ..read more