Market retracing back into prior support and the 20 day moving average. This is the second big gap higher so it’s fadeable.
Here’s the trade:
Sell to Open SPX Sep4 2060/2065 Bear Call Spread @1.00
Add to the trade at 1.50 and 2.00
Out of the trade at 0.30
This trade won’t get filled unless we see a bit more of a run higher. I don’t want to force the short side but rather allow prices to come to me.
Filled on Tier 1 @1.00, Exited 0.30. 0.70 Profit.