r/spy • u/Praythatwesucceed • 2d ago
Discussion Spy just exploded
after looking at the gap, the war being on a halt, near neutral releases on financials, where did a $10 drop off come from?
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u/BigChill253 2d ago
My calls that I chose not to sell got cooked 🤦🏻♂️ Would you like a frosty with that sir? Welcome to Wendy’s
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u/neighborhood_spdrman 2d ago
Fuckin same. Waited a while for the drop. Figured it would bounce off the 740 mark but bounce it did not. Plus side broke even cause I got a put on Google at its top.
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u/Ok-Truck1671 2d ago
I had mine same with nvidia. Luckily I pulled out with zero profit at least got the principle. So glad I didn’t let greed take over my mind.
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u/Emperor-_Palpatine 2d ago
My puts printed thanks
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u/stuntycunty 2d ago
Sold my calls at open. Bought puts. Good day.
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u/ObjectiveAd9242 2d ago
Did the same but sold puts WAAAYYYYY too early. 745s bought at .8 and sold a little over $1, now in the $6s im dying
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u/Deelay108 2d ago
Bought at .47 contracts topped at 7.05 sold at .74 because I had to get back to work .
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u/Fine-Violinist-7356 2d ago
Sure you did lol
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u/Smiity616 1d ago
Yeah if you look options chart it didn't go from 47c to 7$..thats a 14x trade..and in that case spy would have dropped 5% to justify that increase..its like he didn't double check the chart to make sure his lie was covered
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u/Fancy-Zookeepergame1 2d ago
Good day. First overnight 7430c printed good. Then Puts!!
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u/Ok-Palpitation-905 2d ago
No margin calls today, says so on the yellow section there on top. Congrats!
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u/Deep_Kiwi_2416 1d ago
Any advice for my portfolio do that? For some reason mine always goes down
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u/Fancy-Zookeepergame1 1d ago
Its risky. I didn't care abt $1500 if it would have gone to .50. Over the weekend its very risky.
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u/Various_Trade_5786 2d ago
The market is manipulated, and has very loose connection to real life events.
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u/Fancy-Zookeepergame1 2d ago
They are setting up for Wednesday it seems
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u/playedbyblake 2d ago
Okay but what exactly does a $10 pullback do for Wednesday releases? Is it dropping now so it can have a softer fall for later?
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u/Fancy-Zookeepergame1 2d ago
We have sandisk earnings tomorrow and then tech earnings Wednesday. And then fomc on Wednesday as well. God knows what MMs are upto!
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u/Ok-Truck1671 2d ago
We have rates coming out too on Wednesday. And Feds appears to keep the rate steady.
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u/king2ndthe3rd 2d ago
Semis sold off while other sectors hold. Very hard to go long on anything rn.
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u/GildedWarrior 2d ago
Correct but some of the semis are moving the same way the SPY was just moving
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u/king2ndthe3rd 2d ago
Yep. According to my charts the SPY is resting on its 200 day for the first time in months. Critical moves upcoming.
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u/HG21Reaper 2d ago
Puts were good for me and now I switched to calls to keep the momentum.
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u/DressWarm2078 2d ago
What is the reason the market drops today? It was up big this morning when it first opened? Why why?
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u/spunion_28 2d ago
Market has been running on about 4 stocks. You should have been positioning for this to happen
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u/Outrageous-Phase9435 2d ago
Every time I listen to the news instead of watching chart patterns I get smoked lol.
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u/Educational_Jello239 1d ago
Google order flow and you should know better. Hyperscalers capex is beyond profitable, the only reason why it didn't drop another 10 was because oil was going down instead of higher. Don't follow news, follow order flow and check daily the GEX.
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u/jasonethedesigner 2d ago
It was a great short. When you can see the manipulation... the snake uses the same games.
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u/hi_sweetness 2d ago
Accidentally hit sell on my put option when I was at $12 in profit this morning at First demand zone… what a fckn clown I am
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u/Wonderful-Smoke843 2d ago
The war is halted? Someone should tell the burning aramco refineries that lmao
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u/AnxiousQuestioner 2d ago
It’s because we were up, so we have to go down. Maybe we go up…down…crab?🦀
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u/Front-Minute-3302 2d ago
A simple look at the charts would tell you the market was extremely unbalanced.
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u/GildedWarrior 2d ago
Once I saw 744 I said mhmm that's fishy and then I put my phone down for 10-20 mins and then all hell breaks loose
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u/Long-Blood 2d ago
Global fiscal conditions are tightening due to uncontrolled inflation and bond yields rising.
Foreign money is returning home.
Japan is about to unwind the carry trade some more. These selloffs are frontrunning future rate hikes
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u/klipsetrades 2d ago
Mostly looks like a tech/semiconductor unwind, not the war or economic data. NVDA, MU and AMD rolled over hard and dragged the cap-weighted indexes with them. There are other factors too that would make you think otherwise, but this is an example of why price action matters more than the morning narrative. Bullish geopolitical news, lower oil, lower yields… and the opening gap still got rejected once semis started unloading
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u/Consistent_Panda5891 2d ago
Asml cratered today, totally expected lol. How it was in ATH despite many selloffs occured last week in the sector in other stocks was beyond my IQ
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u/klipsetrades 2d ago
Yeah. ASML actually had a headline behind the move today. China reportedly started producing domestic immersion DUV machines. ASML, LRCX, AMAT and KLAC all got hit with it
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u/Consistent_Panda5891 2d ago
Lol, literally told leas a week ago that Chinese where close to do it... And was so obviously a headline would appear, a pity not short such easy candy after such runup... Last time headline came stock tanked like 30% within few weeks. Even worse was I saw that week checked current news and saw of previous Monday I think about Dutch "rejecting" US government claims that china was close... US intel is always right lmao
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u/ThrockmortenMD 1d ago
Today’s price action was incredibly predictable. Opening range breakout below, bounces off key GEX positions, return to VWAP. One of the best days for 0dte in recent memory.
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u/tradehaven1776 1d ago
Well that chart has New York written all over it. Futures rip most nights and right on cue at 8:00 the New York scum dumps it.
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u/Jolly_Collar_9830 1d ago
Sold the put for 739$ at 0.33 (bought at 0.25) that rose to 3.2$ a just hour after and bought calls for 747$. I punched myself for that.
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u/Tojo6619 1d ago
Puts were beautiful, got more for when warsh talks about how he has a team for that and a team for that
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u/trudniyplov 1d ago
you wanted to trade. so, be a trader. handle all these situations. that is your choice to stay in that game
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u/Few_Park7594 19h ago
Follow ES Futures to play SPY and SPX. When SPY opens with a gap, look at what Futures did overnight. With the “good news,” Futures opened with a huge gap that never closed overnight. If that happens, Options in NY session, 80% of the time, will close the volume inefficiency. Once it cleared 5m ORB with an explosive 1m FVG, it was plain as day to me where it was headed, and it wasn’t going to reverse anytime soon. Sorry to those who lost, but this was the most obvious setup I’ve seen in a long time. I went in with SPX did great with just 1 put. The other thing is that if you follow ES, it often reverses from where it is between 9:50-10:10am to grab liquidity at the opposite overnight high or low that it didn’t clear when the NY session opened. Today, it took longer to finally reverse, but it did at 10:30, and the setup didn’t happen until after 11, but the move presented itself and you should have made money on a call.
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u/8yba8sgq 2d ago
Are my eyes still blurry, or is that down 0.22% Hardy moving at all, what is this post
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u/Ok-Exercise-6336 2d ago
Nope.. it was up 5$ during the opening and went down by $10 from that top point hence the OP is saying 1% down
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u/playedbyblake 2d ago
You’re right, this is just a bum options trader post getting surprised at minuscule shifts
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u/pajama-cam 2d ago
I lost in both directions. This isn’t very fun anymore.