Options Entry Details 10-Mar-23
Ticker previously identified, bullish seasonality & statistics.
I’ve just added SPY March 2024 Calls.
SPX500 has pulled back to the mid-point of the distribution range and I’ve been watching this contract for a few weeks, it has pulled back in value as well.
If/when SPX500 breaks the futures bearish trend, I plan to add to the position.
The seaonality is poised to continue its strength and the statistics previously shared have historically indicated higher prices over the next 5-12 months.
For the above reasons, I have decided to take a call position now, expiring in 12 months.
Below are the trade details & chart.
Details
Ticker: SPY
Expiration: March 15, 2024 (371 DTE)
Strike: $450 (Delta 27)
Fill: $10.30
Stop: Initially, no stop. Will add a stop as the chart develops. The risk is the position can lose significant value.
Other Details:
SPY Historical Vol: 0.15
SPY Implied Vol: 0.28
VIX: 24.5