Sep 17, 20201 min read

Options Trading Ideas Notes – Sep 17,2020

In Pre Market, SPY went below the support of 334. and is hovering around moving avg 50 which is 333.49. I think it will act as support for SPY

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TC2000 Daily SPY Chart Sep 17

However, XLK as mentioned yesterday, seems to be going down. it closed below moving avg 50 at 111.54. In fact we may see 95 for XLK in the near future. That means it might go below the ichimoku cloud.

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TC2000 XLK Daily chart Sep 17

AAPL went below the MA 50 today. On the upside , it can go to 143 ( 112.5) after retracing to 104 ( crossing over 37.5 % retracement. Have next week 115 calls. Got to see if it makes sense to hold.

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TC2000 AAPL Daily chart Sep 17

Overall, looks like we should avoid Tech looking at XLK charts for a while. One idea considering today is PTON . It went from 78.83 to 88.50 and retraced back. The flat line support is around 72.60. I feel it can go to 74.50 and below before it begins its ascent.