Market Forecast

Close of SPX should be below 2170
1st Target low below 2163
2nd Target low below 2159
3rd Target low below 2154
These are the key levels we will be watching in our trading today.

Trading Strategy

We plan to Buy to Open .SPXW160909p2160 (SPX Weekly Option put Strike 2160) at limit price of 4, looking to enter after 9:35 a.m. EST.
We will be looking for at least a 120% profit and about a 70% stop along with using our target price levels in the SPX above. We use these levels as guidelines for our exit strategy. Once a level is hit, we watch very carefully and will often exit if SPX starts to reverse course off of these levels.
Caution is urged if any target low is hit and then bounces back above 2170

We wait till 9:35 a.m. EST to enter our trade, and normally enter the trade at a much lower price than our limit shared above. We will not enter any trade after 10:30 a.m. EST. Each trader must pick their own exits based on risk tolerance and market conditions. We often employ a trailing stop when our profit goals are hit or SPX price targets are reached.

Make it a profitable day!
SPX Option Trader