Option Strategies: .SPX, QQQ& NVDA

EliteOptionsTrader
07-02

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

1.

July 2 Premarket Trade Plan 📈

$S&P 500(.SPX)$ Small gap down this morning, possibel we see another consolidation day if it stays under 6200. Calls can work above 6200.

$Invesco QQQ(QQQ)$ relatively weak compared to $SPX. QQQ needs to move back through 550 to test 556-563.

$NVIDIA(NVDA)$ needs a red to green move to signal more bullish price action for chip stocks. 153 was the previous ATH level.

Be careful today, don't overtrade. The market started to show some signs of weakness yesterday and were seeing 2 gap down days in a row. Good luck everyone!! 🫡

2.

TRADE PLAN for Wednesday ✅

$S&P 500(.SPX)$ consolidation day today near 6200. SPX needs to hold above 6200 to set up for 6251+ by next week.

SPX 6220C is best as as lotto above 6200

$Robinhood(HOOD)$ moved to 99+ but ended up moving back near 92 by the close. Once HOOD can get through 100 it can run to 115-120

HOOD July 18 100C is best above 96

$Invesco QQQ(QQQ)$ under 546 a bit more bearish for this month. QQQ under 546 can test 541 again.

QQQ July 3 544P is best under 546

The market made a big move from last Monday into this week. We can see more consolidation leading into July 4th. Good luck tomorrow everyone! 🫡

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