CRWD calls pay 10x+ What's next after Friday's dip in SPY? Trade ideas for Monday Sept 23, 2024
CRWD calls pay 10x+ What's next after Friday's dip in SPY? Trade ideas for Monday Sept 23, 2024
Are you planning trades that pay as much as 5 to 20 times your risk? If not, join THT-PRO. We got 2 10-20x+ payouts on Friday. Did you catch it?
Good morning traders!
The dip on Friday should not have come as a surprise. I was wrong about the 568 dip and rip but right about that dip coming. The one difference, we dipped one more level down to given an excellent risk reward/long. The other issue we ran into on Friday was the the 570.50 target level wasn’t reached on SPY but he SPX 5710 target level was. This is likely due to Friday’s dividend.
This is why I don’t blindly wait just for levels to come and focus Risk/Reward based profit taking. Anytime I get at least 5R, i’m taking profits. I miss out on massive gains sometimes because of it, but I get consistent gains.
In today’s blog I will go over the trade setups in SPY. Overall given how juiced contracts where I didn’t love it.
One of the things I love about the THT community is the teamwork. Ricky mentioned CRWD on Friday, and I took a look and made a plan.
GUESS what the price was when I placed the order for 0.25. It was 1.50!
One of my super power in trading is estimating dip buy prices. It dipped to 0.15 and a couple of members bought there. These contracts ran to $2, then dipped back to 0.15 and ran to $5 at end of day. That is 8x on round one and $20x on round 2!!!! Thanks Ricky for bringing it to attention. With teamwork we all can get plan and execute great trades!
I ended up almost tripling a baby account I took the bet in. Sold 50% at 0.75, 20% at $1, ann 20% at 2. on Round 1. Then on Round 2 I sold 50% at 0.45 to make it free 20% at 1-1.20 and then 30% at 3 when it got to 298 target.
Friday closing action and premarket
At the close AAPL took a sudden dip and MSFT has dipped in premarket today.
We also had a pop into 570 overnight on SPY and then a sharp drop to 567 overnight.
Overall I think the start of the week should be chop/consolidation action as market digests the recent 300pt rally. I would also not be surprised if more dips come.
Keep an eye on 562.50 and 565.50 breaks for failed breakdown reversal but if those turn into tops, more downside can come!
Let’s review the action in SPY and go over ideas for today.
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Introduction (for New Readers)
Welcome to my blog on Two Hour Trading—your daily source for market insights and trading opportunities. Here, you’ll find comprehensive market analysis, educational lessons, and trade ideas to help you excel in trading, all while spending less than two hours a day.
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Subscribers receive daily market analysis updates, educational content, and up to three trade ideas each morning based on real-life examples and my trading approach.
NOTE: screenshots from chat are from Edge Trade Planner. A platform available to THT PRO members. Join Us for live commentary and planning. Note my goal is to actively trade less than 2 hours a day finding 1 to 4 great trades a day.
What is Two Hour Trading?
Two Hour Trading is my system for finding and executing trades while spending less than two hours a day trading. My goal is to earn 100-300% on the capital I risk while waiting for 1000%+ gain trades to set up. Key benefits include:
High-quality trades with excellent reward vs. risk
Avoiding overtrading and losses from it
Trading to win vs. trading not to lose
Stacking the deck in your favor
2024 Alert Leaderboard
Here's a look at some of the potential gains achieved through our entry alerts:
Sep 20 - CRWD 295c 0.25 —> 5 ($2500→ $50000 potential)
Sep 19 - SPX 5730/35 bear calls $4 —> 0 ($collect $4000 premium risking $500)
Sep 18 - SPX 5650/55 bear calls $4.50 —> 0 ($collect $4500 premium risking $500)
Sep 18 - SPX 5670/75 bear calls $1.50 —> 0 ($collect $1500 premium risking $500)
Sep 17 - SPX 5630p $3.50 —> 20 ($3500 → $20000 potential)
Sep 16 - SPX 5600p $3 → 10.50 ( $3000 → $10500 potential )
Sep 11 - SPX 5500c $0.50 → 60 ( $1000 → $120000 potential )
Sep 11 - SPX 5450c $4.5 → 110 ( $4500 → $110000 potential )
Sep 11 - SPX 5400p $2.75 → 14 ( $2750 → $14000 potential )
Sep 10 - SPX 5450p $3.50 → 18 ( $3500 → $18000 potential )
Sep 09 - SPX 5450p $2.35 → 8 ( $2350 → $8000 potential )
Sep 09 - NVDA 102p $1.35 → 2.15 ( $1350 → $2100 potential )
Sep 06 - SPX 5430p $3 → 29.60 ( $3000 → $29600 potential )
Sep 06 - SPX 5430p $8 → 29.60 ( $8000 → $29600 potential )
Sep 06 - SPX 5450c 0.30 → 1.70 ( $3000 → $17000 potential )
Sep 06 - TSLA 220p 0.60 → 7 ( $600 → $7000 potential )
Sep 06 - NVDA 102p 0.20 —> 1.50 ( $2000 → $15000 potential )
Sep 05 - TSLA 230c 2.30 → 7 ( $2300 → $7000 potential )
Sep 05 - SPX 5620p 6 → 37 ( $6000 → $37000 potential )
Sep 05 - SPX 5480p 0.5 (dipped to 0.22) → 5.20 ( $1000 → $10000 potential )
Sep 04 - SPX 5630p 6 → 26 ( $6000 → $26000 potential )
Sep 03 - SPX 5630p 0.20 (dipped to 0.75) ( $750 → $19000 potential )
Sep 03 - SPX 5555p 4.50 → 46 ( $4500 → $46000 potential )
Sep 03 - NVDA 110p 1.4 —> 4.4 (1400 → 4400 potenial)
Sep 03 - UVXY 25c 1.2 —> 5.4 ( $1200 → $5400 potential)
Aug 30 - SPX 5640c 0.20 (dipped to 0.30) —> 14 ($3000 → $140000 potential)
Aug 29 - SPX 5650c 3.50 —> 6 ($3500 → $6500 potential)
Aug 29 - MSFT 420c 1.30 —> 4 ($1300 → $4000 potential)
Aug 28 - SPX 5560p 1 —> 8.70 ($1000 → $8700 potential)
Aug 28 - SPX 5560p 1 —> 8.70 ($1000 → $8700 potential)
Aug 28 - SPX 5580p 1.75 —> 21 ($1750 → $21000 potential)
Aug 27-28 - PDD 95p 0.75 → $7 ($750 → $7000 potential) *swing trade
Aug 27 - SPX 5620c 4.50 → $19 ($4500 → $19500 potential)
Aug 27 - PDD 95p 0.75 → $1.66 ($750 → $1660 potential) *swing still in play
Aug 26 - PDD 100P $1.50 → $6.50 ($1500 → $6500 potential)
Aug 23 - SPX 5600p $7 → 38 ($7000 → $38000 potential)
Aug 22 - SPX 5600p $7 → 38 ($7000 → $38000 potential)
Aug 21 - META 535c $3 → 8.50 ($3000 → $8500 potential)
Aug 20 - SPX 5600p $4.50 → 15 ($4500 → $18000 potential)
Aug 20 - SPX 5580p $2 → 7 ($2000 → $7000 potential)
Aug 19 - SPX 5600c $0.4 → 8.25 ($400 → $8250 potential)
Aug 15 - SMCI 600c (swing) $2 → 38 ($2000 → $38000 potential)
Aug 15 - SPX 5540c 0.50 —> 3.50 ($500 → $3500 potential)
Aug 14 - SPX 5400p 5.50 → 10 ($5500 → $10000 potential)
Aug 14 - SPX 5450c 4 → 10 ($4000 → $10000 potential)
Aug 14 - SPX 5450c 1.50 → 10 ($1500 → $10000 potential)
Aug 14 - SPX 5460c 0.20 → 3 (0.10 entry goal, took small 0.20) ($200 → $3000 potential)
Aug 13 - SMCI 600c swing $2.5 ($2500 → $10500 potential)
Aug 13 - SPX 5400p 17 stops 15 ($1700 —> $2300 potential)
Aug 12 - SPX5350c $8 stops 7 ($8000 → $25000 potential)
Aug 12 - SPX5340c $0.5 ($500 → $4500 potential)
Aug 09 - NVDA107c $0.2 stops .10 ($2000 → $7000 potential)
Aug 09 - LLY900c $3.50 stops 1.50 ($3500 → $11500 potential)
Aug 07 - SPX 5280p $10 stops 8 ($1000 → $8000+ potential)
Aug 07 - SPX 5200p $1 stops 0.5 ($1000 → $7000+ potential)
Aug 07 - NVDA 100p $0.8 stops 0.4 ($800 → $3300+ potential)
Aug 06 - SPX 5250c $10 stops 8 ($1000 —> $6000+potential)
Aug 06 - SPX 5250p $1.5 stops 0.75($1500 —> $13000+potential)
Aug 05 - SPX 5300c $3.50 stops 2.50 ($3500 —> $11000 +potential)
Aug 02 - SPX 5350p $5.50 (overnight swing from Aug 01) ($5500 —> $45000 +potential)
Aug 01 - SPX 5480p $4.50 ($4500 —> $65000 potential)
July 31 - SPX 5520c $12 ($1200 —> $3390 potential)
July 30 - SPX 5430p $2.50 ($2500 —> $30000 potential)
July 30 - SPX 5400p $2 ($2000 —> $10000 potential)
July 30 - TSLA 220p $1.50 ($1500 —> $5000 potential)
July 30 - SPX 5450c $0.20 ($200 —> $5000 potential)
July 29 - SPX 5450p $4.50 ($4500 —> $16000 potential)
July 29 - SPX 5460p $0.20 ($200 —> $1100 potential)
July 29 - SPX 5470p $1.5 ($1500 —> $8000 potential)
July 29 - SPX 5480c credit sell - collect $2700 risk $500
July 29 - SPX 5400p $2 out $6 ($2000 —> $6000 potential)
July 26 - SPX 5400p $2 out $6 ($2000 —> $6000 potential)
July 26 - SPX 5450c $4 out $12 reached 15.50 ($4000 —> $15500 potential)
July 25 - SPX 5450c $1, $1.50, and $1.75. target $10. reached $10! ($1000 —> $10000 potential)
July 25 - SPX 5450c $5. reached $41.70! ($5000 —> $41700 potential)
July 22 - CRWD 240p $1.7. reached $3.5! ($1700 —> $3500 potential)
July 22 - SPX 5580c $0.5. reached $3.3! ($500 —> $3300 potential)
July 19 - SPX 5500p $2. reached $12! ($2000 —> $12000 potential)
July 18 - SPX 5580p $5. reached $53+! ($5000 —> $53000 potential)
July 17 - SPX 5540c $2. reached $16! ($2000 —> $16000 potential)
July 16 - SPX 5660c $2. reached $10! ($2000 —> $10000 potential)
July 15 - SPX 5650c $1. reached $4! ($1000 —> $4000 potential)
July 11 - SPX 5600p $2. reached $23! ($2000 —> $23000 potential)
July 09 - Credit Sell SPX 5590/5595 bear calls 2.30-2.50 stops at 2.60 ( $2500 premium collected per 5k position risking $300)
July 08 - AVGO 1800c 13( $1300—> $2250 potential)
July 08 - SPX 5560p 2.50 stops 2.30 ( $2500—> $5000 potential)
July 08 - TSLA 270c 4.50 target 7.50 ( $4500—> $7600 potential)
July 03 - SPX 5520 2.5 ($2500—> $18000 potential)
July 02 - TSLA 225c 3.5 ($3500—> $8500 potential)
July 02 - SPX 5500c 2.50 ($2500 —> $10000 potential)
July 02 - SPX 5470 Bull Puts 2.50 ($2500 credit collected)
July 01 - closed TSLA Swing $2.65—> $12.00
**Past Performance is not indicative of future results
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Trade Recap for Friday Sep 20
GOLD BOLD ITALIC = price action signal
GOLD REGULAR = action to take/taken
GREEN REGULAR = trades I should have taken
SPY / SPX
I initially took a small long given the new low on the open and rip over vwap which got stopped out for 0.50 loss. That was fine. Then it was time to wait an hour and watch the action. Market looked week and we got puts off the vwap rejection and add on 10:30 peach line break. for the flush into 565.50 level. A number of members got long on that dip. We then push back toward day highs to lock in for decent gains.
Most of my attention when to the CRWD dip buy and trade. I loved the opportunity in that and missed the calls for $2 in the afternoon session. At least I think I did. don’t recall the trades from Friday. And didn’t feel the need to overtrade after securing 4-8x in the morning.
Remember, you only need 1 to 4 great trades a day. Don’t get trapped into overtrading. The held me back in my trading and account growth for a long time. Focus, plan, be patient, take action, be patient, take profit. That is the forumla!
If you are busy and want to see my commentary and ideas in real time consider joining THT-PRO.
Education - How to Join a Strong Trend
The process I typically follow for joining a strong trend are as follows:
All day grinder: join on dips to 20ma
Multi-day grinder:
Join either on support test of morning lows/failed breakdown reversal
Join at vwap mid day or end of day
Keep it simple. Don’t chase, wait for support levels for great risk/reward entries!
Education - Systematic Profit Taking
How do I take profits? I keep it relatively simple. Depending on the entry and range to the next levels I typically with take profits 50-100% of my profits at 3-10R and then raise stops to above entry with a goal of letting runners take me to the next level or 2 and to then reload if I believe we are consolidating before the next leg.
I then repeat the same process on the reload.
Let me know in the comments if you have questions or would like to see examples, I’ll share them.
Trade Ideas - Plan for Monday Sept 23
Stick to process. The process and trade setups I teach works. Rinse and repeat over and over again. There will be losses. Any good system will have them. Being systematic also means the gains will repeat and come again too. If you keep changing your system/process trying in an effort to never lose a trade, you will never get to where you want to go.
Ideas
Stick to process.
Looking for a weak open and then chop today.
Technically SPY chart is setup for 600+ by Jan-Feb. Let’s see if that comes.