Next Support for SPX
BY LICIA LESLIE October 27, 2023 Hi Shoppers, It’s been an ugly two days for the S&P 500 Index (Ticker: SPX). I think we could trade lower from here. Check out the daily chart: A very significant support level comes in at $4080. Looking at SPY puts, I like next Wednesday’s expiration: […]
SPX Looking Higher
BY LICIA LESLIE October 25, 2023 Hi Shoppers, Not only did the S&P 500 Index (Ticker: SPX) close above the 200 day moving average, but it also has a beautiful doji on Monday with confirmation on Tuesday. Looking at the options: I like the S&P 500 Mini SPX Options (Ticker: XSP) calls expiring today. […]
S&P Looking Lower
BY LICIA LESLIE October 20, 2023 Hi Shoppers, The SPDR S&P 500 ETF (Ticker: SPY) has closed well below its support level at $430: Looks like the next support level comes in at those previous lows at $421.85. I like taking a shot on today’s puts, check them out: The 425s […]
SCHW Ready to Rally
BY LICIA LESLIE October 18, 2023 Hi Shoppers, Charles Schwab (Ticker: SCHW) reported earnings on Monday. Not sure what they were but they have caused the stock to make a turnaround here from these lows: Before Monday the stock was consolidating and possibly ready to take that next leg lower. Monday’s action created a bullish […]
Your New Favorite Class
BY LICIA LESLIE October 15, 2023 Hi Shoppers, Check out this uuugllyy chart in Wayfair (Ticker: W): The stock has closed below the 200 day moving average on Thursday and traded much lower on Friday. I am not seeing support in this stock until $41. Looking at Friday’s puts: The at […]
Quite the Reversal
BY LICIA LESLIE October 13, 2023 Hi Shoppers, Just when we thought it was safe to go long, bam! The market gets a pretty wicked intraday sell off. So where are we now? Check out my ES S&P Mini Futures Dec Contract chart: The neckline and that lower level of […]
EMini S&P 500 DEC Chart
BY LICIA LESLIE October 11, 2023 Hi Shoppers, The market has had quite the move. I wrote this up on Sunday: Here is the Emini S&P 500 Futures December Contract (TIcker: ESZ2023): The head and shoulders top was completed when ES closed below the neckline at $4414.50. The target price […]
Let’s Talk About Gamma
BY LICIA LESLIE October 4, 2023 Hi Shoppers, I wrote about an option’s delta the other day. Today, let’s talk about gamma. First, here’s the definition of gamma: The rate of change on an option’s delta as the stock moves. The delta tells us how much the option price should […]
Know Your Options Synthetics
BY LICIA LESLIE September 29, 2023 Hi Shoppers, I am pretty sure you are familiar with the term “delta” related to options. This is just a little refresher. Theoretically, all things being equal, an option’s delta is how much the option’s price moves as the stock moves. A 50-delta call moves up $.50 as the […]
A Lesson on Delta
BY LICIA LESLIE September 29, 2023 Hi Shoppers, I am pretty sure you are familiar with the term “delta” related to options. This is just a little refresher. Theoretically, all things being equal, an option’s delta is how much the option’s price moves as the stock moves. A 50-delta call moves […]