SPX Option Trader
SPX Daily Outlook 05/22/2023 example2024-08-28T08:12:48-05:00

SPX Daily Outlook 05/22/2023

SPX Market Forecast

Close of the day for SPX should be below 4191 (Daily Target)
1st Target low 4179
2nd Target low 4170
3rd Target low 4162
These are the key levels we will be watching in our trading today.

 

SPX Trading Strategy

We plan to Buy to Open .SPXW230522P4190 (SPX monthly option: PUT, Strike: 4190 Expiration: 05/22/23) at limit price of 11.9 *please note trading guidelines.
We will be looking for about a 90% profit and using about a 65% stop along with using our target price levels. Please see our website www.spxoptiontrader.com for our trading guidelines.

 

SPY Market Forecast

Close of the day for SPY should be below 419 (Daily Target)
1st Target low 418
2nd Target low 417
3rd Target low 416.25

 

SPY Trading Strategy

We plan to Buy to Open .SPY230522P418 (SPY monthly option: PUT, Strike: 418 Expiration: 05/22/23) at limit price of 1.05 *please note trading guidelines
We will be looking for about a 90% profit and using about a 65% stop along with using our target price levels. Please see our website www.spxoptiontrader.com for our trading guidelines.

 

 

Possible Support/Resistance Levels

Possible SPX support/resistance levels: 4196, 4201, 4211, 4220
Possible SPY support/resistance levels: 419.25, 420.25, 420.75, 421.25

Make it a profitable day!
SPX Option Trader

——— TRADE UPDATE ———

 

SPX

We purchased .SPXW230522P4190 (SPX monthly option: PUT, Strike: 4190 Expiration: 05/22/23) at a price of 4.7

SPY

We purchased .SPY230522P418 (SPY monthly option: PUT, Strike: 418 Expiration: 05/22/23) at a price of 0.41

——— TRADE UPDATE ———

SPX

We exited our SPX Option at 15.2 for a profit of 223%

SPY

We exited our SPY Option at 1.3 for a profit of 217%

SPX Option Trader

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