Trade 1: $SPY 8/30 446c

• Reasoning: key level reclaim

• Entry: 446c 1.21

• Exits: 1.45, 1.54, 1.78, 2.54

• Highest Gain/Loss: 120%

Today, SPY and QQQ were starting flat following a choppier day yesterday. The game plan for today was to wait 30 minutes before we saw Job Opening data come out which would affect the market. The main levels I was focusing on today were the 444 level on $SPY then the 368 and 370 levels on $QQQ. If we were able to hold these levels following the Job Opening numbers then I was going to look for a breakout. When SPY reclaimed 444 following this data and broke over 445.20 I went long. Few minutes following the entry the position was paying 20%+ and I progressively locked in profits.

Top Watch for 9/30/23

$CAT: key level reclaim

Today, CAT was able to get the breakout over 275 and ran into 280. If CAT can reclaim 280 then it can set up for a push into 282 and then 285. CAT continues to show significant strength as it consolidates well post-earnings. Keep the volume of the options on watch. CAT can have wider spreads so we want to make sure it has decent volume in the calls to add conviction. The 280c can work over 280.

$NVDA: key level reclaim

NVDA was able to get the breakout over 470 and 481 today which triggered a move into the 490 range. If NVDA can clear 490 tomorrow then it should be set up for a push into the 500 range again. Over 500 should trigger another breakout. I would want to see $SPY holding over the 450 level to add support from the market. We will see if NVDA has any positive news in the morning which would add conviction on this. The 500c can work over 490