DECENDING WEDGE ON $SPY

Apr 9, 2024

SPY nicely forming descending wedge. May be a nice entry today for puts due to crazy drops happening the last couple days. It could also breakout to the other side so doing small risk here.

Apr 9, 2024

Trade active

Buy activated $510 P exp 4/12

Apr 9, 2024

Note

Just noticed that FOMC Minutes happening tomorrow. This might throw a monkey wrench for my puts which increases this to high risk.

Apr 9, 2024

Note

May even end up selling today if it blows past support and supply levels in the last moments of the day.

Apr 10, 2024

Trade closed: target reached

Beautiful dump to below supply. Was up almost 100% on my contract so I closed out. Gonna sit back and watch for any oppurtunity for FOMC minutes.