The suggested ATM SPY call options from earlier this week should be entering the exit zone today.
So based on the stats we looked at, setting a 40% limit order should be a very high probability of success trade. That limit order looks like it will hit this morning.
I had suggested using a 70% limit order to exit the trade. If price moves up a little further into the gap down from 198ish, that order will likely hit. So, I don't have anything new to offer other than possibly suggesting a scaled exit taking part of the position off at 40% gain, and then using the 70% limit order for the rest of the contracts.
Pete
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I am out of the SPY Calls for a 40%+ gain. It appears likely that the 70% target will be hit.
ReplyDelete15 MACD chart bearish divergence would be a clear sign to be out of the trade if the limit order is not hit yet.