Red

nice catch…Maybe we breakdown now

Ah.. Feel a bit relived now.. Hoping this doesnt shot back up to the fp

I see a FP on the SPY of 137.39 at 1:20 pm on the 1 minute chart.

 Thanks… I’ll hang onto it for now. I figured they were close enough and it was faring well early in the morning.

I’d hang on until the close at least.  They need to hit the FP I believe before it turns over.  But I’ve seen times where they never actually hit the FP and just came close to it.  So far we’ve hit 138.18 as a high, which could be enough?  I’ve also seen them pierce the FP and go past it a little too.

 i have 137… Didn’t think it was that low, maybe i should hold then?

What strike did you get?  If we do rollover today the biggest support is the 135 SPY strike price, which is where I think they will close out this week.  That’s assuming this ritual works today and we do turn down into the close.

 Yeah think I might close the puts that expire tomorrow. Hard to say, even if its hit today, how tomorrow would look. Plus, time value really kicks in after 3 on the weekly options

Well, they sure are chopping this up and taking their time.  Unfortunately they longer they chop around the more likely they will have that last push up to hit the 138.41 SPY FP… then down (hopefully).

 Now it seems as if the high is in.. We’ll see…