Option Strategies: .SPX

Selling For Premium

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

1.

UPDATE: $S&P 500(.SPX)$ 0DTE gamma stacks have changed

- 5600 is still the battleground level being the largest gamma stack

- 5650 is the next largest gamma stack, and could act as a magnet to pull the market up to that level if 5600 doesn't hold

- 5550 could serve as support for today

We wrote an Iron Condor, 5690/7000 CCS & 5430/5420 PCS. Will be 👀 the call side.

Image

2.

$S&P 500(.SPX)$ still showing a preference for the put side based on the gamma stacks. Am looking to write a 0DTE call credit spread around the 5700 strike. A 2.5-3% move to the upside today would be surprising (but welcomed for the overall portfolio).

- 5600 is the battleground level

- 5550 & 5500 could be potential magnets

That said, if those puts are closed out it could act as fuel to push the move up as it would release downside pressure. Not a lot of resistance up to 5700.

Will also be looking to write a put credit spread and turn the trade into an Iron Condor.

Image

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Today i want to share some option stratgies with you!</p><p></p><p>1.</p><p>UPDATE:  <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 gamma stacks have changed</p><p>- 5600 is still the battleground level being the largest gamma stack</p><p>- 5650 is the next largest gamma stack, and could act as a magnet to pull the market up to that level if 5600 doesn't hold </p><p>- 5550 could serve as support for today</p><p>We wrote an Iron Condor, 5690/7000 CCS &amp; 5430/5420 PCS. Will be 👀 the call side. </p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/ce86bfaf52a8eb61a43971621fe1309e\" tg-width=\"1260\" tg-height=\"841\"><span>Image</span></p><p></p><p>2.</p><p> <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> still showing a preference for the put side based on the gamma stacks. Am looking to write a 0DTE call credit spread around the 5700 strike. A 2.5-3% move to the upside today would be surprising (but welcomed for the overall portfolio).</p><p>- 5600 is the battleground level</p><p>- 5550 &amp; 5500 could be potential magnets</p><p>That said, if those puts are closed out it could act as fuel to push the move up as it would release downside pressure. Not a lot of resistance up to 5700.</p><p>Will also be looking to write a put credit spread and turn the trade into an Iron Condor.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/e607cf11576b59f093bc32fc063b968e\" tg-width=\"2048\" tg-height=\"1492\"><span>Image</span></p><p></p></body></html>","htmlText":"<html><head></head><body><p>Hello everyone! Today i want to share some option stratgies with you!</p><p></p><p>1.</p><p>UPDATE:  <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 gamma stacks have changed</p><p>- 5600 is still the battleground level being the largest gamma stack</p><p>- 5650 is the next largest gamma stack, and could act as a magnet to pull the market up to that level if 5600 doesn't hold </p><p>- 5550 could serve as support for today</p><p>We wrote an Iron Condor, 5690/7000 CCS &amp; 5430/5420 PCS. Will be 👀 the call side. </p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/ce86bfaf52a8eb61a43971621fe1309e\" tg-width=\"1260\" tg-height=\"841\"><span>Image</span></p><p></p><p>2.</p><p> <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> still showing a preference for the put side based on the gamma stacks. Am looking to write a 0DTE call credit spread around the 5700 strike. A 2.5-3% move to the upside today would be surprising (but welcomed for the overall portfolio).</p><p>- 5600 is the battleground level</p><p>- 5550 &amp; 5500 could be potential magnets</p><p>That said, if those puts are closed out it could act as fuel to push the move up as it would release downside pressure. Not a lot of resistance up to 5700.</p><p>Will also be looking to write a put credit spread and turn the trade into an Iron Condor.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/e607cf11576b59f093bc32fc063b968e\" tg-width=\"2048\" tg-height=\"1492\"><span>Image</span></p><p></p></body></html>","text":"Hello everyone! Today i want to share some option stratgies with you! 1. UPDATE: $S&P 500(.SPX)$ 0DTE gamma stacks have changed - 5600 is still the battleground level being the largest gamma stack - 5650 is the next largest gamma stack, and could act as a magnet to pull the market up to that level if 5600 doesn't hold - 5550 could serve as support for today We wrote an Iron Condor, 5690/7000 CCS & 5430/5420 PCS. Will be 👀 the call side. Image 2. $S&P 500(.SPX)$ still showing a preference for the put side based on the gamma stacks. Am looking to write a 0DTE call credit spread around the 5700 strike. A 2.5-3% move to the upside today would be surprising (but welcomed for the overall portfolio). - 5600 is the battleground level - 5550 & 5500 could be potential magnets That said, if those puts are closed out it could act as fuel to push the move up as it would release downside pressure. Not a lot of resistance up to 5700. Will also be looking to write a put credit spread and turn the trade into an Iron Condor. 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