S&P 500 Analysis & ETF Trading

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KNDI bulls are on it. KNDI moves above 14. This is trying to break out from a 2.5 month base. There is room to move here even if this is not at the best buy point. I looked at options and IV's are high and the spreads are too wide except for mybe the July's and I don't want July's except for a daytrade or a short swing. I don't like that here because I am too late. That leaves the best option to just buy some shares. Not too many and sell July calls against each 100 shares you buy when KNDI hits 15 which will be stronger resistance. Given the strength I am seeing I expect KNDI to hit 15.

As I have typed this KNDI moved strongly above 14. It is up over 8% on the day so now I am really late. At this point it might be best to hope for a pullback or if buying 100 shares immediately sell that July 15 call to get a hedge for waiting too long to buy. Volume is a bit light so there might be a mini pullback to get a better entry. I still want to sell that call once I get in as that premium is too fat to pass up.