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Monday, September 28, 2020

SPY/MARKET BREAKDOWN - 5 minute read

SPY/MARKET BREAKDOWN - 5 minute read

This is a complete market breakdown moving into the week of 9/28. (Video -> Text)

Weekly Watchlist

Looking for a strong bullish start to the week with a cool-off mid-week (Wednesday)

The Plays:
Signaled inside the Easy Loot Discord

Holding From Last Week💎👐:

AAPL $130 CALL 10/30 @ $161
NKE $145 CALL 10/16 @ $37 ( earnings continuation)
Made a few plays to hedge the upcoming weeks…
IWM $85 PUT 12/18 @ $24 (longterm hedge)
EEM $38 PUT 11/20 @ $49 (hedge)
RDFN $55 CALL 10/16 @ $85

BA $175 Call 10/16 @ $360 (SOLD OUT @ $520)
SPY $338 CALL 9/30 @ $100 (WEEKLY YOLO )
MU $51 Call 10/2 @110
MKC $230 Call 10/16 @ $19

Yo what up traders, welcome to the Easy Loot stock options watchlist moving into the week of September 28st and the stock market is going to go crazy. Before we get into it I want to briefly cover a few things that caught my eye this week. First, let’s look at the S & P 500 or Spy ,
( SPY CHART) looking at the chart we can see a few points of interest. This last week we came down to test the pre-covid support at $320 and today should confirm that we held support for now. Looking back at this Febuary pre-crash we saw SPY bounce off $320 and make its push toward $340. Moving into the rest of this week and next, I’m looking to see the s & p make a nice strong continuation. A ton of people are still wondering if the market is pricing in election but I think it already has, maybe. Sleepy Joe is actually winning polls and the market doesn’t seem to mind. So this week we’re looking for a strong bounce maybe above if not to $340. If we can break and close above that, I’d wait to confirm but I’d say it’s a strong indication of a bullrun into q4 earnings and election season.

With that in mind let’s cover some plays we are holding from last week and then we will get into the Easy Loot plays of the week.

Bro last week’s watchlist went crazy, almost everything was hit to a T.
( RDFN ) We called this RDFN bottom out last week which was damn near perfect but these plays are just above breakeven most likely because we grabbed them on an up day, I think RDFN will hold strong and be a mover these next few weeks. Holding that play out with Diamond hands.
We had a few other setups take place from last weeks watchlist but for the most part we just need to be patient.
Moving into this week, I’m holding an Apple 130 call that we made last Tuesday, I’m holding the NKE $145 call, holding both the hedges we made Friday on IWM & EEM and lastly I’m holding the RDFN $55 call. Most of these plays will take atleast a few weeks to complete which is why we are aiming to grab more time like atleast a month out.
(Watchlist) I think it’s time to get into the plays yeah

Today we made a 4 plays, 1 quick day trade, 1 weekly yolo , and 2 earnings plays.

(BA CHART) Right off the bat this morning we grabbed a call position in BA playing the reversal, Boeing was only up maybe 3% at signal and continued it’s run up toward almost 8% before we took profit. I’m going to be watching a few levels this week. First I’m going to be watching $167 then $170 as resistance levels, next I’m going to be watching $158 and $154 as possible support if Boeing were to fall. I think Boeing has a big move cooking up it’s just going to be important we hit it right with timing.

We grabbed a risky call yolo on the S & P that expires Wednesday, I honestly thought this was a weekly when I first bought it but we will see how it does, we just covered the SPY index chart so let’s move on.

These next two plays are earnings plays, we kept it very light but we did get our feet in the water. We played Micron and Mccormick which both report Tomorrow after hours.
(MICRON) First I grabbed a Micron $51 weekly call going into earnings , this was a bit more risky but I did like it with how Micron has moved these last few months. I’m not certain but I am confident they have outperformed and could release some big numbers. I think Mccormick can move the same but we did hold back a bit on it.
( MKC ) We grabbed a Mccormick $230 call 10/16 @ $20 avg , on top of that I grabbed a $220 call and a $240 call just to get a better idea of how earnings premiums will run this quarter. At the end of the day, its important to recognize earnings plays are almost a gamble at some points and should be taken as such.

Moving through the rest of the week I’m confident almost every play we hold will hit profit at some point, it’s just up to us not to be greedy. Like I said, I’m looking for a nice start of this week with a possible cool-off later on. Inside our channel, we will continue to watch everything we have covered, we are going to watch Draftkings , Snapchat, Spotify which we called out last week, wmt , spy , metals like gold and silver and lastly the dollar. If we see the dollar fall off expect commodities like cryptos to rise. If you like our plays and haven’t yet joined our free trading discord you can do so now 1st link in the description. Let’s keep this watchlist focused and firm as we move forward this week. Strap in, understand your risks and push yourself past your learning limits. It’s all about growth day by day as we aim to all become better traders. Hope everyone had a great weekend and start of the week, let’s keep the energy going. Be ready for action this week, I’ll see you all in the morning.


from Trading Ideas
via gqrds

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