BY LICIA LESLIE
March 22, 2024
Hi Shoppers,
I am seeing S&P 500 ETF (Ticker: SPY) resistance on yesterday’s high:
I will be watching for the market to open and trade lower this morning.
Once it does, I will be shopping for puts in SPY:
I like the Mar28 522/517 put vertical around $1.40.
Only enter if the market is trading lower and looks soft.
Support comes in at $520.50.
Use a close above 525 as your stop loss.
Trade Review
Dynatrace (TIcker: DT) did trade up $.90. Once it closes above the 50 day moving average, I think it can trade to $50.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain