This is a phenomenal set up for call options on the SPY . One contract was just trading over $10 and has since sold off hard and looks to have made a low of $.48. The last three daily bars have similar high prices of about $.92. So Long entry triggers On a daily close above $.95. Market gapped higher at the open sending the price of a call option up to $1.24. Set up a buy order to buy one contract at one dollar to $1.10. Be patient allowing order to be filled in that price range . Once executed use a stop loss at $.44. Each day raise your stop loss to the prior Days low closing price . Reducing your risk each day as the price climbs! Also notice the MA CD and histogram is about to cross triggering long entry!! First target and resistance $3 creating a risk to reward of two dollars of profit for every $.50 risk or a 4 to 1 risk to reward ratio !! Trade at your own risk!
