Option Strategies: .SPX

Hello everyone! Today i want to share some option strategies with you!

Is that 0.236 fib retracement level around 5800 gonna hold as support on $S&P 500(.SPX)$ , or is there more pain to come and we are heading down to 5700?

Lots of gamma at the 5800 stack. Need that to hold, otherwise there isn't much to stop us from falling down to 5700 (or lower).

We'd be careful optionselling 0DTE puts on SPX.

Image

Yesterday was a day we should have bought $S&P 500(.SPX)$ 0DTE put spreads rather than sell them. Did not see a -2% drawdown on anticipated tariff news sending the market dumping like today.

Luckily, escaped the carnage with net profit, although gave back some of it closing out a 5805/5795 put credit spread that came dangerously close.

These daily candles the past three trading days on SPX are crazy! When was the last time it had such size on back-to-back-to-back moves?

Image

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Today i want to share some option strategies with you!1.Is that 0.236 fib retracement level around 5800 gonna hold as support on <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> , or is there more pain to come and we are heading down to 5700?Lots of gamma at the 5800 stack. Need that to hold, otherwise there isn't much to stop us from falling down to 5700 (or lower).We'd be careful optionselling 0DTE puts on SPX.<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/9fe7c0c1d373418c0bfda1d2cdb0ce30\" tg-width=\"1275\" tg-height=\"952\">Image<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/af640df9beea3d23690ab4fbe7564178\" tg-width=\"1263\" tg-height=\"842\">Image2.Yesterday was a day we should have bought <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> 0DTE put spreads rather than sell them. Did not see a -2% drawdown on anticipated tariff news sending the market dumping like today. Luckily, escaped the carnage with net profit, although gave back some of it closing out a 5805/5795 put credit spread that came dangerously close.These daily candles the past three trading days on SPX are crazy! When was the last time it had such size on back-to-back-to-back moves?<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/fa54610441fb362c9e83cb0986ed9df7\" tg-width=\"1268\" tg-height=\"952\">ImageFollow me to learn more about analysis!!</body></html>","htmlText":"<html><head></head><body>Hello everyone! Today i want to share some option strategies with you!1.Is that 0.236 fib retracement level around 5800 gonna hold as support on <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> , or is there more pain to come and we are heading down to 5700?Lots of gamma at the 5800 stack. Need that to hold, otherwise there isn't much to stop us from falling down to 5700 (or lower).We'd be careful optionselling 0DTE puts on SPX.<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/9fe7c0c1d373418c0bfda1d2cdb0ce30\" tg-width=\"1275\" tg-height=\"952\">Image<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/af640df9beea3d23690ab4fbe7564178\" tg-width=\"1263\" tg-height=\"842\">Image2.Yesterday was a day we should have bought <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> 0DTE put spreads rather than sell them. Did not see a -2% drawdown on anticipated tariff news sending the market dumping like today. Luckily, escaped the carnage with net profit, although gave back some of it closing out a 5805/5795 put credit spread that came dangerously close.These daily candles the past three trading days on SPX are crazy! When was the last time it had such size on back-to-back-to-back moves?<img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/fa54610441fb362c9e83cb0986ed9df7\" tg-width=\"1268\" tg-height=\"952\">ImageFollow me to learn more about analysis!!</body></html>","text":"Hello everyone! Today i want to share some option strategies with you! 1. Is that 0.236 fib retracement level around 5800 gonna hold as support on $S&P 500(.SPX)$ , or is there more pain to come and we are heading down to 5700? Lots of gamma at the 5800 stack. Need that to hold, otherwise there isn't much to stop us from falling down to 5700 (or lower). We'd be careful optionselling 0DTE puts on SPX. Image Image 2. Yesterday was a day we should have bought $S&P 500(.SPX)$ 0DTE put spreads rather than sell them. Did not see a -2% drawdown on anticipated tariff news sending the market dumping like today. Luckily, escaped the carnage with net profit, although gave back some of it closing out a 5805/5795 put credit spread that came dangerously close. These daily candles the past three trading days on SPX are crazy! When was the last time it had such size on back-to-back-to-back moves? 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