This is how im heading into CPI tomorrow. The 384p are runners from a previous position.
Good luck everyone, should be some good action in the morning.
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Of course most of you know CPI not great, but keep in mind SPY dropped yesterday and hard this am. Watch that 375,372.50 and 370 support. I am watching 376 and 378 resistance. <@&895135662867619930> I am also watching OXY as article came out this am saying maybe it’s a stock that is safe from CPI and Berkshire added 12 million more shares. Might try some calls if it holds that 56 or 55 support but small position.
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Will be looking to cut all my swing positions at open and reposition into more puts for today’s continued fall.
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So far the 376 resistance is holding so to reconfirm on SPY: 375,372.50 and 370 support. Watching 376 and 378 resistance. <@&895135662867619930>
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Wow basically closed out at even on the strangle lol
Sold DAL put positions for .26. Total profit on DAL earnings (call yesterday and puts today) came in just over 20%
OXY running so far from callout. I didn’t enter though so watching for bounce maybe <@&895135662867619930>
376.98 resistance for SPY
Ok adding SPY puts here at 378 <@&895135662867619930>
I have a plan and will be ready to cut or average down if it pushes 380 and breaks above. Again don’t assume it will just drop a ton now. <@&895135662867619930>
Congrats to everyone that held puts! CPI print came in hotter than expected and the market reacted violently to the downside. What I will say is to be careful because I’ve watched everyone here go all-in on bearish sentiment many times thus far and get blown out in kind. PPI is tomorrow and we’ve seen that it has the potential to completely reverse the course of bad CPI numbers. As has been discussed in the Think Tank thread, there is evidence of demand destruction and the forward looking PPI may come in to save the day.
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Good profit from SPY 378 rejection. Locking it in now <@&895135662867619930>
Again if you bought SPY puts at 378 it has paid twice. Don’t forget to take profit or cut some to cover costs etc. <@&895135662867619930>
arms index has stayed bullish and tech is showing strength. Wouldn’t be surprised to see a Green Day.
Out of my puts here <@&895135662867619930>
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Cut my puts here
Ok might be done for the day after trading 378 resistance on SPY 3 times. 375 was my cut no mater what. At this point I will not re enter unless it pushes 378 or 380 again and I may just watch and relax. GL all. <@&895135662867619930>
375 good support on SPY if you didn’t catch it. I don’t like playing 378 resistance now though as we don’t want to overtrade a resistance so if it tries 380 I might play a few puts. SPY: 375,372.50 and 370 support. 378 & 380 resistance still but otherwise relaxing day <@&895135662867619930>
watching for a clean break on 3800, still bullish for the day
