buying $SPY 126 weekly calls at .64-.65 OVERSIZED, am tryign to time a bounce

/b buying $SPY 126 weekly calls at .64-.65 OVERSIZED, am tryign to time a bounce, still am holding the debit spread on SPY 128 trough 129 calls that I can release bullishly if we were to see a further bounce (By covering 129 short), also still hold the short credit spread on $SPY 128 weekly calls trough the 127 weekly calls and if we were to see continuation fall we can exit the short there  to allow the in the money poition to continue unhedged. That is my strategy on both calls debit spread release ot salls credit spread release depending on weather the market hold this trendline she today reached again or not. So far hourly charts have held the boddys of candles above the trendline now laying arounf 126.50 with only wicks bellow. If we hold trendline then the bounce shuld come and be strong hence the debit spread release, if not then technicaly a new flush attempt shows itself, hence the credit spread short release.

Posted in General Trading