SPY Trade Ideas for Wed Jan 21
Our Bull Puts and Bear Calls paid! AlphaOS is making Credit Selling and directional bets easy.
Wow what a sell day. I was patiently waiting for 685 to come to get positioned in directional puts, that didn’t come so ended up with doing bull puts in morning and bear cals in late morning. Both WON and were headache free.
When I got back to my desk at 1:15pm I had missed the short entry and had to watch SPY dump “without” me. I say that in quotes because the bear calls were positioned and paid, but I missed the 500-1000% trades.
Bottom line the credit sell win rate using a handful of time continues.
Overall morning action was very choppy and bulls/bears fought.
Once the blue line and vwap were broke after 12pm, it was non stop selling. The tick to join was easy. basically any pop to the red line allowed for an entry. We almost got to the 676 level I shared yesterday
Overnight we triple bottomed there and just before open crossed previous day low?
The question today, will we reverse yesterday’s selling or continue?
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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Plan for Wed Jan 21
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.
SPY Survival Guide: Dodge the Drop Today
Premarket gapped down to test key supports—watch for reversal edges around 680.
Market Context
SPY premarket close at 679.13, sitting between pivot 680.71 and S1 675.55 after a sharp drop from recent highs near 697. Over the last 5 days, price action shows choppy range trading with multiple failed breakdowns below 680 and reversals at volume spikes around 679-681. Bias leans bearish short-term but with support nearby for potential bounce.
Key Events Today
10:00 am - Construction spending (delayed report) (Period: Oct.) - Forecast: 0.1% | Previous: 0.2%+
10:00 am - Pending home sales (Period: Dec.) - Forecast: 0.7% | Previous: 3.3%
