Consistent income with long term option trades.
Good afternoon O$ traders!
At the time of this news alert, we rose above a key level 3900 (see white dashed line in chart above). If the market were bouncing and ranging all day, then this would be an excellent place to get puts. However, today is not a range hunting day. At most futures may dip back down to 3880, but should bounce up again. Too little of a range to risk calls/puts right now. It’s best to see what Monday morning brings before evaluating getting into calls/puts again. The calls we entered yesterday profited today, and some other recent plays are doing well too.
With the recent confirmation of lack of sellers today, and more buyers and given that these don’t expire until 2024 and 2025, I’m moving the SNAP and ADBE calls we recently made into the HOLD pot for further gains. They are currently up 61%, and 86% respectively.
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