
Rocket Equities & Options Report 05-05-23 Trade Update
The ES is back to the .618 retracement of the move lower - we are buying a put in the SPY for next Friday expiration.
Buy the May 12th $413 SPY Put for about $3.18.
Our max loss is the $318 per contract.
The SPY is at $412.65.
This is a high risk trade as we will plan to hold it at least over the weekend, and if it gaps away from us Monday morning it could very easily be a full wipe out.
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