Consistent income with long term option trades.
Good afternoon O$ members!
As expected, last week the market was all juiced up on repeat news from FED Powell we already heard before. I warned in a Friday SPY PUT alert that there was not going to be much news over the weekend and into next week to shock the market upward again and that ES 3980 was going to act as a magnet for the new week. Our SPY puts are up over 100% today. The ES 4010 level never broke upward after dropping below the 4000 level so I decided to hold onto them for possible more downside action this week. Our MNST puts we entered Thursday are up as well, and our CROX and IBM puts are close to break-even.
The key for me this week is 4010 on the upper end for supply/resistance and 3980 for demand/support. This will guide the way for further call or put plays.
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