The SPY is 1/10th the value of the SPX (with a slightly higher bias). So, if the SPX goes up to say 1380 then the SPY would be around 138.00, but it’s usually slightly higher… so maybe 138.10 or 138.20 is more accurate.
I’ll be looking for some options on the spy that expire in March and are about 6-10 points lower then the current level when I place the trade. So if the spy is around 145 then (Feb. 11th or 12th) then I’d be looking at the open interest in the 135-139 strike prices for clues. The more open interest the more likely I’d pick that strike price.
Now as for the coming sell off next week I’ll be looking to do a put spread as it could be chopping while going down on this first wave 1 and I don’t want to get killed on time decay. But the Feb. puts will be straight puts… no spread, as that’s a wave 3 and it will move fast I believe.
LOL… there’s a lot of things I find out that don’t post here (for safety reasons of course). But, I still some how let everyone know the important results and outcome of that knowledge… just like you are doing with your 9-11% drop target.
So keep up the good work on helping others out with your knowledge of a downside target… and doing so while keeping your source safe! You can always email me too you know. 🙂
Red, lets say that god him self told you that their was going to be a 9-11% drop in the near future. I guess we will assume Feb 25 th area. How would you play it. I know you like options, what type of options ect.
If I told you, I would have to sh–t you. LOLLOL I know that is not politically correct to say in these times. But I know you have a good sense of humor Red. Honestly Red, if I told you, you would probably ban me from this board. LOL LOL. I am very good at knowing the % drops but yet weak at the timing of the drops.
That is why, I was very curious on Ali timing. Again, I see a 9-11 % drop. in the very near future. I am some what disappointed, that it will be some what of a shallow drop.
Did you mean 1480 rather than 1380 ?
The SPY is 1/10th the value of the SPX (with a slightly higher bias). So, if the SPX goes up to say 1380 then the SPY would be around 138.00, but it’s usually slightly higher… so maybe 138.10 or 138.20 is more accurate.
Red, if we have a 5th wave up from here. Where would the sp be up to?
Thanks
red(at)reddragonleo(dot)com
I lost your e mail, where is it on the board Red.
I’ll be looking for some options on the spy that expire in March and are about 6-10 points lower then the current level when I place the trade. So if the spy is around 145 then (Feb. 11th or 12th) then I’d be looking at the open interest in the 135-139 strike prices for clues. The more open interest the more likely I’d pick that strike price.
Now as for the coming sell off next week I’ll be looking to do a put spread as it could be chopping while going down on this first wave 1 and I don’t want to get killed on time decay. But the Feb. puts will be straight puts… no spread, as that’s a wave 3 and it will move fast I believe.
LOL… there’s a lot of things I find out that don’t post here (for safety reasons of course). But, I still some how let everyone know the important results and outcome of that knowledge… just like you are doing with your 9-11% drop target.
So keep up the good work on helping others out with your knowledge of a downside target… and doing so while keeping your source safe! You can always email me too you know. 🙂
Red, lets say that god him self told you that their was going to be a 9-11% drop in the near future. I guess we will assume Feb 25 th area. How would you play it. I know you like options, what type of options ect.
Thanks
If I told you, I would have to sh–t you. LOLLOL I know that is not politically correct to say in these times. But I know you have a good sense of humor Red. Honestly Red, if I told you, you would probably ban me from this board. LOL LOL. I am very good at knowing the % drops but yet weak at the timing of the drops.
That is why, I was very curious on Ali timing. Again, I see a 9-11 % drop. in the very near future. I am some what disappointed, that it will be some what of a shallow drop.
SILVER Support levels: http://niftychartsandpatterns.blogspot.in/2013/01/silver-support-levels.html