
Rocket Equities & Options Report 04-10-23
We are going short this market with a SPY put which expires Friday. Banks kick off the earnings season Friday with JPM, C, WFC, among others.
We are right at an area of short term confluence in the ES at the 4,127 area.
Buy the SPY 409 Put that expires Friday April 14th - it is trading at about $3.15 right now with the SPY trading at $408.70.
This is a high risk trade, only risk what you can afford to lose. Our max loss is what we put up for the option, about $315 per contract.
We may hold through Friday depending on the action, or there is always the chance we close it out early.
Stay tuned for updates!