
Rocket Trade Update 03-29-23
We are going short this market with a $400 SPY put, expiring Friday. These are high risk trades as if the market moves against us we can lose our entire investment so only risk what you are willing to lose as our defined risk is the entire cost of the trade, and 100% losses are likely to occur often when trading options with only a couple days until expiration.
We have traded just above the 4,040 area on the ES, which has been an area of resistance.
Buy the SPY $400 Put that expires Friday March 31st. This is currently trading at about $2.20. You are risking about $220 per an options contract.
We will look for some downward volatility over the next few days. Don't risk what you cannot afford to lose, as we will have plenty of trades that are complete wipeouts with this strategy and options use, yet you can see how last week we can also get huge pops when we are right.
Stay tuned for updates!
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