SPY Breakout Trap: Survive 692-695 Chaos. Trade Ideas for Thu Feb 26
BOOM! 1/3 Credit Sells won.
3 Trade Alerts - 1 winner. 2 break even/small loss.
Overal the action in the first 90 minutes was choppy! but once vwap was recalimed after the first hour the upside became clear and our bull puts paid!
The beautiful thing with credit sells is the decay. so often times able to get out with profit, break even, or small loss when cwap is crossed and we are on the wrong side!
How to use AlphaOS to recognize shift in momentum
Process = Profits
Lately I’ve been doing the following:
Premarket establish where we likely wont reach. Sell premium for 0.8-0.60 on open.
After 11: second positioning of credit sells.
After 3:30: start hawking/planning for a Spectre Special
What’s a Spectre Special? A yolo trade that goes 300-1000% in under 30 min.
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SPY Breakout Trap: Survive 692-695 Chaos
Premarket at 693.83 eyes failed resistance test above pivot
Market Context
SPY premarket closed at 693.83, sitting above the 691.54 pivot but below resistances at 695.74 and 699.48. Last 5 days showed choppy range-bound action between 680-695 with multiple failed breakouts above 690 and breakdowns below 685, volume spikes at 692.5-694 confirming rejection zones. Bias leans neutral-to-bearish with premarket high 694.22 failing to hold, positioning for potential failed breakout reversal if 695.74 rejects.
Key Events Today
8:30 am - Initial jobless claims (Period: Feb. 21) - Forecast: 215,000 | Previous: 206,000
10:00 am - Fed Vice Chair for Supervision Michelle Bowman testifies to Congress
