Option Strategies: .SPX, NVDA& AVGO

EliteOptionsTrader
07-29

1.

TRADE PLAN for Tuesday 📈

$S&P 500(.SPX)$ consolidation day before FOMC on Wednesday. SPX rejected at 6400 and dropped 25 points. Most likely we see another consolidation day tomorrow. WAIT For AFTER FOMC before considering a trade this week.

$NVIDIA(NVDA)$ lots of relative strength, NVDA to 180 possible if market can rip higher after FOMC.

NVDA Aug 8 180C is best above 175 this week

$Broadcom(AVGO)$ 300 test in play by Wednesday. If AVGO can breakout above 300 it can run another 15-20 points in August.

AVGO Aug 8 310C best near 300

I'd be patient over the next 1.5 days before FOMC. I don't see any signs of momentum in SPX or $Invesco QQQ(QQQ)$ . Good luck tomorrow everyone! 🫡

2.

The best traders don’t just take better trades.

They avoid the worst ones.

Discipline isn’t what you do…

It’s what you DON’T do. Remember:

Restraint is the million dollar secret.

Do you understand?

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