Option Investor

Option Writer Portfolio - June

Printer friendly version

June Trade

The market is trying to hold on here. There is a long signal from a spike in the volatility index. However, the major support at the 89 day SMA was broken on Friday and has been traded to become resistance. The next level of support is at 67.67, on the S&P 500 Ultra Proshare, from a gap up on April 16th. That is why I want to sell the June 67 Put. The $1.30 target is not set in stone. A fill at $1.20 still meets our goal. See the chart for the support and resistance.

Option Writers Newsletter Archives