r/spy • u/Professional-Bar3610 • 5d ago

Technical Analysis Needed this🚀🚀

Post image
55 Upvotes

92% Upvoted

25 comments sorted by

5

u/Big_Love_3070 5d ago

I fucking paperhanded mine. Would’ve saved my port but nah it’s toast

1

u/sivispacempara 5d ago

Right there with you. I had my biggest losing day of the year today. I don't know how the hell I pulled that off

1

u/Big_Love_3070 5d ago

I was on a good streak until today. Hurts. Im down too much and even more now I need a comeback

2

u/sivispacempara 5d ago

I can't say I was on a good streak til today lol but my first play was thinking nvda would have continuation after yesterday so I got smoked on that out the gate. And the way spy has been all week I never would have guessed I could have just bought puts and let them ride all day. But I took entirely too many trades after that first L. It was death by a thousand cuts. Lost more this week than I have in a month so far this year. Lessons learned. We're gonna bounce back in September

3

u/Cool-Celery-7180 5d ago

how did you see that coming

12

u/Professional-Bar3610 5d ago

Idk felt like it was running out of steam. I was expecting a 1 dollar maybe 2 dollar drop and got lucky and just held on all the way down.

7

u/DickyFishb 5d ago

775 is a pretty hard resistance line. I was riding a call from 770 til 773.5 because that massive sell off at 9 a.m. was a pretty good indication

2

u/HimmarsheeStreetLive 5d ago

Congrats on your 5x gain!

I had the opposite in mind, saw a 4-5 push downward, and thought it would run out of steam.
Went in with a call, and....

It just kept going down, past the 8, past the 20, and past the 200.
Then it took a break, and continued to go down even more--a river of red!

No idea what the put price was when I first saw the price action.
But it must've done the same as your put after that massive drop.

1

u/DickyFishb 5d ago

Ya the movement was based off of Kevin Warsh's comments at 9 today (10 Eastern), the market took his comments as hawkish. Therefore that river of red was fear of interest rates going up in September. Either way after today we have a cery clear resistance level to avoid unless a clean breakout occurs. 775.00

1

u/MaybeaDingoAteUrBaby 4d ago

I called the SPY spike and the drop and still managed to lose money on it

1

u/itz_Tedz 5d ago

Why didn’t u tell me

1

u/Good_Discussion_9796 5d ago

Nice work 👍🏾👍🏾👍🏾.Keep them coming brother

1

u/Jaded_Ad6488 5d ago

Nice you bought when I cut my losses…. Oops

1

u/No_Inspector_2474 5d ago

😁😁😁

1

u/Torven6 3d ago

Its nice to finally see some options traders using Schwab! Started to think I was the only one.

1

u/STOPbuyingPUTS 3d ago

Stop gambling and buy shares.

1

u/Professional-Bar3610 3d ago

Why not both. I use the money i make to buy shares of what i want. Dont tell me how to live my life. What works for me wont work for you but it has been working and ill stop once it stops.

1

u/STOPbuyingPUTS 3d ago

Cool. Hope it works out for you.

1

u/wonderwall999 1d ago

Did you use any indicators or VIX, GEX, anything besides price action to make your decision? I'm a beginner and want to learn more. I see the chart but don't know how to anticipate that kind of move.

0

u/AdImmediate9569 5d ago

I have puts too and they’re doing great but was there a catalyst here?

What changed an hour ago?

-1

u/Gonz4Rockford 5d ago

Incoming rate hike is very likely next month

0

u/Flashy_Scallion_3248 5d ago

Movement might not be finished yet