SPX Market Forecast
Close of the day for SPX should be below 5897 (Daily Target)
1st Target low 5880
2nd Target low 5868
3rd Target low 5856
These are the key levels we will be watching in our trading today.
SPX Trading Strategy
We plan to Buy to Open .SPXW250514P5895 (SPX weekly option: PUT, Strike: 5895 Expiration: 05/14/25) at limit price of 21.7 *please note trading guidelines.
We will be looking for about a 80% profit and using about a 50% stop along with using our target price levels.
SPY Market Forecast
Close of the day for SPY should be below 588 (Daily Target)
1st Target low 586.75
2nd Target low 585.5
3rd Target low 584.5
SPY Trading Strategy
We plan to Buy to Open .SPY250514P587 (SPY weekly option: PUT, Strike: 587 Expiration: 05/14/25) at limit price of 1.85 *please note trading guidelines
We will be looking for about a 80% profit and using about a 50% stop along with using our target price levels.
Possible Support/Resistance Levels
Possible SPX support/resistance levels: 5906, 5911, 5926, 5938
Possible SPY support/resistance levels: 588.75, 590, 591, 591.5
Make it a profitable day!
SPX Option Trader
Waiting to enter trade, looking for reversal setup
SPX
We purchased .SPXW250514P5895 (SPX weekly option: PUT, Strike: 5895 Expiration: 05/14/25) at a price of 11.9
SPY
We purchased .SPY250514P587 (SPY weekly option: PUT, Strike: 587 Expiration: 05/14/25) at a price of 0.93
Consider using about a 30% trailing stop on option positions
Consider using about a 25% trailing stop on option positions
Consider using about a 20% trailing stop on option positions
SPX
We exited our SPX Option at 22.3 for a profit of 87%
SPY
We exited our SPY Option at 1.81 for a profit of 95%