Friday's SPY Options Trade Idea: Puts

June 21, 2024 | [Read Online]( Friday's SPY Options Trade Idea: Puts [fb]( [tw]( [in]( [email](mailto:?subject=Post%20from%20Market%20Navigator&body=Friday%27s%20SPY%20Options%20Trade%20Idea%3A%20Puts%3A%20%0A%0Ahttps%3A%2F%2Fmarketnavigatortrading.beehiiv.com%2Fp%2Ffridays-spy-options-trade-idea-puts) [Header] Congratulations to all that followed along with my SPY calls trade idea yesterday. I executed June 27th $547 calls entry of $3.56 to an exit of $4.00. Not bad for a trade that was 15 minutes in the morning. Here is what I am watching today…. U.S Pre-Markets Snapshot European Markets Snapshot Economic Calendar For This Week Today’s Fundamental Highlights Morning Update: Markets are slightly red here as we roll into Triple Witching, which is where we have options, index options and futures all expiring on the same day. This can tend to push volatility higher in on direction or another. We also have service PMI data at 9:45am which is slightly after market open, so waiting for that might be a good idea to get a better direction of the morning. That being said, European markets are all red, the VIX is rising (fear anticipation) and the 10 year yield is red, which is a good sign. Right now most of the big tech stocks are red so my early thesis is to watch for a pullback today but I do want to see that 9:45am data. Which will be the bigger market driver today? NVDA which is red or MSFT / AAPL which are both slightly green today? Let's talk about it at 9am in the live chat room. Be ready in the [Market Masters room to break it all down at 9am](. This Weeks Earnings Releases Today’s Key Chart Technical Analysis My Key SPY Chart Areas: A decent pullback yesterday on SPY as we hit yet another all time high early before dropping about $5 later in the afternoon. I am watching $542 and $540 as possible support areas now with resistance around $547 and $550 today. Educational Resources [Options Video Lesson Library Click Here]( Have a friend that is interested in learning options? [Share this link with them]( [Live Trading With Jeff Williams Click Here]( Today’s Trade Of The Day Idea SPY June 28 $547 Puts Today’s Audible Trade Idea SPY June 28 $542 Calls Note: The Audible idea is just in case markets make a last minute change between 8:45am and 9:30am market open. Sometimes late news comes in or stocks start to sell off, therefore, this idea would be my “plan b” idea at which I would do my best to notify you via the RagingBull App or streaming [Market Navigator room here](. [signature] P.S. As always, for questions about any of our services, contact our amazing sales team at 1-800-585-4488 / davis@ragingbull.com. They’d love to hear from you! 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