A 1DTE, a premarket continuation, and a 3rd BO loss
Ahoy there, Trader! ⚓️
It’s Phil…
The daily moves are looking alive still, but the intraday stock index moves are a little all over the place still.
It’s not a big deal for the Poppers and the swings. As long as we don’t see prices move against us in a serious way, then everything works out. It’s still just frustrating to sit through.
I am still gleefully rubbing my bear mittens awaiting the tumble. There may be a little maniacal cackle.
Right then, let’s get into the charts.
Market Snapshot
The daily moves and the intraday moves have been unable to reach agreement. Both parties have returned to their positions.
- SPX 7,636.36, down 37.16 (0.48%). Upper range to lower range. Full read below.
- RUT 2,921.23. Broken out of the smaller range. Full read below.
- BTC 77,941.97, down 342.01 (0.44%). Meandering sideways. Full read below.
- ES 7,651.75, up 3.75 (0.05%). No read today.
- NazQuack (NQ) 29,402.25. No read today.
- Uncle Dow (YM) 52,515, up 42 (0.08%). No read today.
- VIX 16.50, up 0.03 (0.18%). Above 16.
- Crude (CL) 97.59, up 0.92 (0.95%). No read today.
- Gold 4,436.5, down 10.7 (0.24%). No read today.
RUT moved in a straight line, no muss no fuss. SPX moved in the UK session and meandered most of the US session.
SPX – Still moving from the upper range to the lower range.
SPX prices are still moving from the upper range to the lower range, with bear pulse bars along the way.
Bear pulse bars along the way.
RUT – Bearish too, having broken out of a smaller range.
RUT remains bearish too, having broken out of a smaller range. 2,900 to 2,920 is now support, and news just premarket could decide if it’s the nudge it needs to drop through it, or turn from it.
By the time you’re reading this you’ll already know which way that went.
2,900 to 2,920 is now support.
Crypto, BTC
Nothing really to update.
[BTC chart]
Price is still meandering sideways, neither pushing lower or higher with any conviction.
I remain bearish.
The Premium Poppers – Yesterday’s Poppers were again fun.
The Tuesday 1DTE trade got the day rolling for Wednesday, along with what could have been a premarket continuation, followed by a 1st BO. Both of which managed to secure some profits too.
But the fly in my ointment, which reduced my overall profit, was the 3rd BO hitting a loss.
Overall a profit secured for the day.
No harm, no foul.
Wall of Wins
And as always, the AntiVestor community locked in profits.
One note for anyone new here. Where an entry just says a profit or a win, that means 50% of max profit, which is the default target.
From the community
- Vijay. In on a RUT call spread, out at 50%, double size based on the EA. Then in on an SPX bear spread and out at 50% on that too.
- RJ M. In SPX just after Vijay’s RUT call spread, out of SPX for now, then out at 50% on the last one. In and out, in and out scalping, like pinball.
- Bill H. Out on the RUT call spread. Crazy how it held premium, but we fell so fast at the open. Finished 3 for 3 and a butterfly sitting at 7,645 for free.
- Christian F. SPX bear spread, 50% profit.
- SLP. RUT still working out and flat.
- James D. One of many trades filled for a profit, think RUT. And then an SPX position too.
- David T. Missed an SPX entry that morning, thankfully, which would have whipsawed against him a bar later and probably stopped him out. Made 53% on the RUT BO3 in about 25 minutes.
- Don E. Created transformer and butterfly trades for both SPX and RUT and locked in a minimum $0.50 profit on each. RUT bought 2 at 2,940, sold 4 at 2,945, bought 2 at 2,950. SPX bought 2 at 7,640, sold 4 at 7,645, bought 2 at 7,650.
- Richard H. SPX BO1 SS7640 ATM win for $1, transformed into a butterfly. Thought it might turn around again, but just squeaked in with a bit of time decay helping.
- Jenny D. Got $1.50 and $1.65 on the RUT 1st and 3rd BO, and $1 on the SPX 1st BO. Still waiting on the 3rd BO and suspecting a small loss.
Jenny, that 3rd BO was likely a small loss, which is exactly the same as mine. Bam. That’s how you do it.
Meme of the Day:
Happy trading,
Phil
Less Brain, More Gain
…and may your trades be smoother than a cashmere codpiece
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