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:
The 412/402 put spread for around $2.25 could be a nice purchase.
Remember, as I said before, let the market breathe after the opening.
Let it tell you which direction it will be taking before entering a position.
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