Does SDS has weekly options in the month of September? What is your opinion on selling Covered $26 Strike August 20 Call @around $0.60 on Monday or wait until Tuesday when the SDS might go up and get a better Call premium??No BS please!!!
The spy is hovering over the 200 sma on a 15 min chart, but the upro, the mirror image, is trading below the 200 sma. Monday is a big day as we watch what direction the institutions take the market. Asia and europe traded up, however I think they are following the USA. In other words if we sell off on Monday they will follow.In additon, the best case scenario for both bulls and bears is to drop the spy into a coiled spring or symetrical triangle that way if it breaks up or down it will be more meaningful.
Looking for a 50% fibonacci retracement on the spy from gap fill resistance to low set 4 days ago.That would be most ideal for a bull entry or to cover short position. The way the spy blew past the measured channel support leads me to believe that the spy will retest the low support prior to the technical break down.