Trade 1: $CAT 280c

• Reasoning: daily consolidation

• Entry: 280c at 1.36

• Exits: 1.65, 1.33

• Highest Gain/Loss: 22%

Today, CAT was my favorite set up coming into the trading session as it has been basing above the key 270 level. The game plan for today was to let $CAT clear 275 following a pullback in the morning. When CAT broke over 275 we took an entry on the 280c looking for a push towards 278 and then 280. Calls quickly paid 20%+ and we got a few cents away from getting a 40% win on the position but the market wasn’t able to sustain an upside move.

Trade 2: $META 295c

• Reasoning: relative strength

• Entry: 295c at 2.88

• Exits: 2.6

• Highest Gain/Loss: 9%

Today, META was showing relative strength as it was trading near the key 290 resistance level. I wanted to see META hold 290 and confirm the hold of this level. Once I saw buyers step up at 290 I took an entry and it immediately popped $1.5 into 291.50 but failed to get through this level. META was holding above 290 for about 30 minutes but the price action was showing weakness so I cut the position as it broke down under 290 and this was the right move since it broke down into 27 before bouncing.

Trade 3: $SPY 442p

• Reasoning: weak price action

• Entry: 442p .93

• Exits: 1.12, .93

• Highest Gain/Loss: 20%

Today, SPY was able to start with a gap up but failed to get through 444. I noticed the price action getting significantly weaker as it failed to continue to make higher highs. 442 being an important level, I wanted to short under this level. When SPY broke under 442 I took a 0dte looking for a quick breakdown into 441.20 for the gap fill. After the entry, SPY broke down 442 and I sold 3/5 of the position for 20% before getting stopped out on a bounce. It was a quick scalp.

Top Watch for 9/29

$AAPL: key support zone

AAPL has been trying to backtest the 177/178.50 support range for the last few weeks. Today, $AAPL was able to hold this range again and closed above 180. 180 for AAPL is now key for the bulls to hold. If they hold it above 180 and it gets through 181.50, we should see a move into the 182-185 resistance range. As long as it holds over 180 i’m bullish on it. Under 180 it can set up for 177-175 again.

$NFLX: hourly consolidation

NFLX has been basing above the key 411-413 range for a few days now and is setting up for a higher low print on the daily. NFLX will need to reclaim 420 for the higher low to have more confirmation. I like calls over 420 targeting a push into the 425-428 range. If NFLX breaks back under 413-411 then it can set up for another backtest of 400 where I would also look for a bounce play if it holds. NFLX can always be a trickier trade near the open so give it time. Usually, I like to give it 15-20 minutes before a trade on this.