Rocket 07-27-23 Trading Update
Markets have pulled back fiercely today with volume. We got a big 2.4% GDP number this morning. This economy is still running hot, but a strong dollar and higher yields have weighed on the markets today, along with the prospect that the Fed may not be done hiking just yet.
We are going to let our SPY put spread run for now. The SPY just traded down 6 points from its intraday high today. The ES Futures just traded down 60+ points from this morning's high.
Our $454-$446 SPY trade expires tomorrow. We are going to hold it overnight. Stay tuned for an update tomorrow. We are still flirting with a very high risk trade that could expire for a total loss, but the risk is worth it right now with this fast and furious move to the downside.
Stay tuned for updates!
Disclaimer: Trading in securities such as stocks, options, indexes, currencies, and futures involve risk and should not be undertaken without due diligence and serious independent study. Options, stocks, currencies, and futures trading, involve substantial risk. Subscribers may carry out their trading based on what they learn from “Rocket Equities & Options” however all risks of potential financial losses are the customer’s responsibility. TFNN, Corp. will be in no way liable for financial losses resulting from trading decisions based on this newsletter. Past performance is no guarantee of future results. Reproduction in whole, or in part, is not permitted without prior written consent. Copyright 2023 all rights reserved.