SPDR S&P 500 (SPY)

[NetNeutral]

Spy managed to Close Up 2day, NOT what we were expecting, hence, we could see some firming UP as Spy tested the previous resistance of 261(2610 on Spx), and it Held THREE times, 261 could NOW be Support!!

This would negate our 249 target this week and we should know 2morow "IF" SPy can recapture the 263.95(50% retracement), marker??


We had a couple positions expire worthless 2day but the volatility allowed us to Sell BOTH 1/23 calls and puts at 2.00 and they darn near Both expired worthless, we got pretty much Maximum gain on those trades and we LIKE IT, LOL!!


We go into Thursday with 1/25 263 puts and 267 calls, not exactly Net Neutral since the calls are a Long ways above the closing price of 263.41!!

Good trades ALL...