Keeping a Close Eye on the SPY this Week
This is a video from Options Expert Jerremy Newsome covering a specific put option on the SPY last week.
The market has changed since the initial recording of this video, however this type of retrospective look has the luxury of knowing what actually happened next!
Truth be told, the SPY did follow Jerremy’s prediction in the following days.
Have a look!
Transcript (October 25th, 2018):
Hey Investing Shortcuts, it’s your boy Jerremy Alexander Newsome with another options video!
The last options video we setup we were discussing a breakup and breakdown of the SPY. I think its adequate to focus on that again, and look at potential option trade on the SPY.
My thought at this particular juncture is really a breakdown of the low today (10-25-18). This would be a 266 long put for November 16th.
Realistically, your objective will be to keep an eye out for the high on the October 24th high candle. If it does not break this high, look for an impending breakdown below the low.
I’m keeping my eyes on a continued rollover later this afternoon…
Watch the video for the full breakdown!