SPDR S&P 500 (SPY)

[NetNeutral]

Ok, we got the down day expected and 2morow should complete the corrective portion of the move up to New ATHighs, hence, we're seriously long going into Wednesday with only one short position that we'll use to add longs if we get a GAP down in da-morning??

It appears da-Boyz will defend the R1(269.84) with reckless abandon so we'll use sub 270.00 price action to add 270 5/18 calls??

We expect the Gap at 272.98 to be filled 2morow, with a intraday move up to the R2(273.17), and a close near 272.50??

If this happens then our targets r as follows for the week??

R2(273.17)
R3(276.50)
R4(279.84)


Good trades ALL...



5/18
272 calls at 0.94, Long(Q x 16)
274 calls at 1.20, Long(Q x 8)

5/16
270 putts at 0.90, Short(Q x 8)

Closed positions Wk Ending 5/18, 42.09 gain

5/18
270 putts at 1.05, Short(Q x 16), Sold at 1.35, 19.20 gain(Q x 16)
272 putts at 2.00, Short(Q x 2), Sold at 2.25, 2.00 gain(Q x 2)
272 putts at 1.95, Short(Q x 8), Sold at 2.05, 3.20 gain(Q x 8)
273 putts at 2.05, Short(Quad), sold at 2.45, 1.60 gain(quad)
270 calls at 2.10, Long(Q x 2). Sold at 2.15, 0.40 gain(Q x 2)
270 calls at 2.15, SHORT(Q x 8), STO, BTC at 1.85, 9.60 gain(Q x 8)

5/16
271 calls at 0.72, Long(Q x 8), Sold at 0.89, 5.44 gain(Q x 8)
272 calls at 0.62, Long(Q x 4), Sold at 0.66, 0.64 gain(Q x 4)