SPX Market Forecast
Close of the day for SPX should be below 6013 (Daily Target)
1st Target low 5995
2nd Target low 5983
3rd Target low 5971
These are the key levels we will be watching in our trading today.
Today is a High Volatility Trade, we will be using our adjusted exit strategy.
SPX Trading Strategy
We plan to Buy to Open .SPXW250212P6010 (SPX weekly option: PUT, Strike: 6010 Expiration: 02/12/25) at limit price of 24.1 *please note trading guidelines.
We will be looking for about a 50% profit and using about a 45% stop along with using our target price levels.
SPY Market Forecast
Close of the day for SPY should be below 599.5 (Daily Target)
1st Target low 598.25
2nd Target low 597
3rd Target low 595.75
SPY Trading Strategy
We plan to Buy to Open .SPY250212P599 (SPY weekly option: PUT, Strike: 599 Expiration: 02/12/25) at limit price of 2.35 *please note trading guidelines
We will be looking for about a 50% profit and using about a 45% stop along with using our target price levels.
Possible Support/Resistance Levels
Possible SPX support/resistance levels: 6022, 6027, 6042, 6054
Possible SPY support/resistance levels: 600.25, 601.5, 602.25, 602.75
Make it a profitable day!
SPX Option Trader
Waiting to enter trade, looking for reversal setup
SPX
We purchased .SPXW250212P6010 (SPX weekly option: PUT, Strike: 6010 Expiration: 02/12/25) at a price of 15.4
SPY
We purchased .SPY250212P599 (SPY weekly option: PUT, Strike: 599 Expiration: 02/12/25) at a price of 1.5
Consider watching the 6022 level in SPX as Possible Stop Level
SPX
We exited our SPX Option at 11 for a loss of -29%
SPY
We exited our SPY Option at 1.08 for a loss of -28%