S&P Futures Range Today 2879 to 2895 retesting 2900 near ATH (All Time High) Edge of 2916.50.
Preparing for Minor Wave (Sub-Subset of the SuperCycle Wave 3 to 4 Turning Top) test to down to 2840/2850 before retest of 2880 and subsequent minor wave to target 2845 which will likely wick down to the 50 DMA at 2830.
That would be SPY 289.5 down to 284/285 or 4.5 to 5.5 points.
Every One SPY PUT $1 move down equates to $100 as one SPY PUT controls 100 SPY ETF shares.
Average $5 this minor wave move multiplied by 100X One PUT Option contract on 100 SPY ETF Shares = $500.00
232 Put Contracts at various expirations and Strike Prices X avg $500 per contract = $116K Potential.
I am using various Expiration Dates and Strike Prices because I am working on an algorithm for projecting future trade values of SPY PUTs and CALLs based upon time decay to expiration plus intrinsic value change in Price down for PUTs up for CALLs, and Acceleration factor especially for PUTs, for example it took the S&P 17 weeks to climb to the January 2018 Swing High of 2889 and then only 2 weeks to correct to the Jan 2018 Swing low of 2538 a 351 point S&P SPX/Emini swing and a 35 Point SPY Capture as it is typically priced 1/10 to SPX. These accelerated Down-trend impulses are what make now a particularly exciting time for profit capture - My S&P Trading Advisor is holding over 6000 SPY PUT Contracts and loading up when S&P Emini hits the 2900 Technical Target equating to 290 on the SPY.
Proper Trading Discipline is to take half the profits off the table at one half of the move (2860 SPX /286 SPY), next 25% at the next one-quarter of the projected move and then last 25% for the full ride as fliers to catch any possible mathematical extension beyond the Technical Analysis highest probability targets.
Since we were near the ATH Top Turning SC3 to SC4 Edge the PUTS dropped in price to solid buys today:
Todays SPY PUTs Watchlist at 4PM NYC Time:
Symbol LastPrice$ Change$ Change% Qty PriceWhenAdded DateAdded
SPY Jun 28 19 $200 Put1.49 0.00 0.00%11.72 08/26/2018
SPY Nov 16 18 $260 Put1.00-0.09-8.26%11.5309/09/2018
SPY Mar 29 19 $200 Put0.88 0.00 0.00%10.9008/26/2018
SPY Oct 19 18 $270 Put0.75-0.03-3.85%10.9909/01/2018
SPY Jan 18 19 $220 Put0.69-0.06-8.00%10.8908/26/2018
SPY Jan 18 19 $200 Put0.40-0.01-2.44%10.5008/26/2018
NOTE Plenty more PUT and some Call Profit opportunities as the SCWave 4 bottoms at the Technical Analysis target of 2000 SPX 200 SPY over the next year or so before the SCW4 bottom and SCW5 run back up to 3500+/- several years out. Trump gets the S&P 2000 correction out of the way after the midterms and hopefully will see the Bull Run back up towards 3500 during the 2020 elections - will be interesting to measure any election cycle impact on the shorter minor and intermediate wave technical targets.
Good Hunting...
Deepdiver
NBF - Nuke Boats Forever
NOTE: This discussion is not intended as investment advice in any way, shape, or form and is mentioned for informational purposes only for discussing that we are now making a major Market Top and entering a Major S&P 38 Year Long Supercycle Top Wave 3 to 4 Reversal. Seek competent professional advice to determine your risk tolerance before trading Options or Futures contracts. Never invest more than you can afford to lose.
Preparing for Minor Wave (Sub-Subset of the SuperCycle Wave 3 to 4 Turning Top) test to down to 2840/2850 before retest of 2880 and subsequent minor wave to target 2845 which will likely wick down to the 50 DMA at 2830.
That would be SPY 289.5 down to 284/285 or 4.5 to 5.5 points.
Every One SPY PUT $1 move down equates to $100 as one SPY PUT controls 100 SPY ETF shares.
Average $5 this minor wave move multiplied by 100X One PUT Option contract on 100 SPY ETF Shares = $500.00
232 Put Contracts at various expirations and Strike Prices X avg $500 per contract = $116K Potential.
I am using various Expiration Dates and Strike Prices because I am working on an algorithm for projecting future trade values of SPY PUTs and CALLs based upon time decay to expiration plus intrinsic value change in Price down for PUTs up for CALLs, and Acceleration factor especially for PUTs, for example it took the S&P 17 weeks to climb to the January 2018 Swing High of 2889 and then only 2 weeks to correct to the Jan 2018 Swing low of 2538 a 351 point S&P SPX/Emini swing and a 35 Point SPY Capture as it is typically priced 1/10 to SPX. These accelerated Down-trend impulses are what make now a particularly exciting time for profit capture - My S&P Trading Advisor is holding over 6000 SPY PUT Contracts and loading up when S&P Emini hits the 2900 Technical Target equating to 290 on the SPY.
Proper Trading Discipline is to take half the profits off the table at one half of the move (2860 SPX /286 SPY), next 25% at the next one-quarter of the projected move and then last 25% for the full ride as fliers to catch any possible mathematical extension beyond the Technical Analysis highest probability targets.
Since we were near the ATH Top Turning SC3 to SC4 Edge the PUTS dropped in price to solid buys today:
Todays SPY PUTs Watchlist at 4PM NYC Time:
Symbol LastPrice$ Change$ Change% Qty PriceWhenAdded DateAdded
SPY Jun 28 19 $200 Put1.49 0.00 0.00%11.72 08/26/2018
SPY Nov 16 18 $260 Put1.00-0.09-8.26%11.5309/09/2018
SPY Mar 29 19 $200 Put0.88 0.00 0.00%10.9008/26/2018
SPY Oct 19 18 $270 Put0.75-0.03-3.85%10.9909/01/2018
SPY Jan 18 19 $220 Put0.69-0.06-8.00%10.8908/26/2018
SPY Jan 18 19 $200 Put0.40-0.01-2.44%10.5008/26/2018
NOTE Plenty more PUT and some Call Profit opportunities as the SCWave 4 bottoms at the Technical Analysis target of 2000 SPX 200 SPY over the next year or so before the SCW4 bottom and SCW5 run back up to 3500+/- several years out. Trump gets the S&P 2000 correction out of the way after the midterms and hopefully will see the Bull Run back up towards 3500 during the 2020 elections - will be interesting to measure any election cycle impact on the shorter minor and intermediate wave technical targets.
Good Hunting...
Deepdiver
NBF - Nuke Boats Forever
NOTE: This discussion is not intended as investment advice in any way, shape, or form and is mentioned for informational purposes only for discussing that we are now making a major Market Top and entering a Major S&P 38 Year Long Supercycle Top Wave 3 to 4 Reversal. Seek competent professional advice to determine your risk tolerance before trading Options or Futures contracts. Never invest more than you can afford to lose.