Options Trading SPY [+10% +17%] 11/13/24

SPY 1-minute chart

Day Metrics

{2} Wins {0} Losses

Day Rating: EFFECTIVE

Overview

This morning, we had economic news released at 8:30 AM ET. October Consumer Price Index (CPI) rose by 2.6% annually, slightly higher than the previous month's 2.4% increase, indicating a modest uptick in inflation.

Core CPI, which excludes volatile food and energy prices, increased by 3.3% year-over-year, showing persistent underlying inflationary pressures. Shelter costs, medical care, used cars, and airline fares were among the categories that saw price increases, while apparel, communication, and household furnishings experienced declines.

In reaction to the news, SPY's price spiked above the (-) TL and came back down for a re-test. Price chopped around a bit before dipping to a lower reaction zone. There were plenty of opportunities today.

Trades

[1] (-) TL Break Bounce

Entry: Price already seemed to have bounced off the (-) TL, but it was still chopping around at the open. I decided to risk the opening volatility in case the price spikes at the open.

Exit: The price was choppy, but I took my profits as soon as I hit a decent gain. I usually do not enter so close to the open, so I wanted to get in and out.

[2] RZ Breakdown Reject+VWAP Reject

Entry: Price bounced off of the lower reaction zone and continued to bounce strongly up to the intra-day reaction zone and to test VWAP. This was a great entry.

Exit: I did not know if the market would significantly bounce more, so I locked in my gains as soon as I hit some profit targets.

🎥Trading Session Recording🎥 on 𝕏

-or-

Next Steps

Overall, my execution and mindset were excellent today. However, I was frustrated that I did not get filled for the lower reaction zone bounce. I entered my order, but did not get filled. This would have been a great trade! I didn't chase, and the [2] opportunity presented itself.

I decided to move the end time of my trading session to 8:30 AM PST. Unsurprisingly, I missed out on other potential entries but am grateful for the opportunities I captured today.

I must maintain a simple yet effective approach to my trading sessions.

*Supplementary Images

SPY 5-minute chart

Order Fills 11/13/24

Comments

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Options Trading SPY [-19% +2% +33%] 11/15/24

SPY 1-minute chart 11/15/24. Day Metrics { 2 } Wins { 1 } Loss Day Rating: EFFECTIVE Overview At 8:30 AM ET, the U.S. Retail Sales for October were released. They showed a modest increase of 0.4% from the previous month, aligning with market expectations. However, core retail sales, which exclude autos, were up by only 0.1% against an expected 0.3%. SPY's price did not move in reaction to the news. However, we gapped down from the previous day and are in a downtrend. Trades [1] RZ Bounce Entry: Since we already had a significant gap down and started to push up from a pre-market low, I wanted to re-test the reaction zone and enter calls for a bounce. Exit: I anticipated too early and gave it too much time before cutting losses. The bounce area was lower than I was willing to hold. [2] (-) TL Reject Entry: SPY's price bounced decently, so I waited for the test of the (-) TL. Exit: I was rewarded with a firm rejection in my favor. I locke...

Options Trading SPY [+6%] 11/18/24

SPY 1-minute chart 11/18/24. Day Metrics { 1 } Win { 0 } Losses Day Rating: INEFFECTIVE Overview There was no significant economic news released today that could have the potential to move the market. Following yesterday's sell-off, SPY's price is bouncing off the lows. We formed some intra-day reaction zones, but the price action is a slow grind upwards. Trades [1] RZ Reject Entry: I missed the opportunity to get in on the grind upwards, so I remained highly patient for either a pullback or a reject entry. I waited and was able to get into an entry at the upper reaction zone. Exit: Price continued to want to grind up, so I managed to lock in some gains before the price continued upwards. 🎥 Trading Session Recording 🎥 on 𝕏 -or- Review/Next Steps I completely missed the entry for a RZ bounce or the (-) TL Breakout Bounce. I was too slow to adapt my thinking. I waited patiently for the lower (-) TL Breakout Bounce/ VWAP Re-test, but that never came, so I ...

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