What a day the SPX had yesterday! We'll usually get a nice up-trending day after the market trends down for a few consecutive days and then gaps up. I like to use the 2-Day anchored VWAP as a measure for whether it's a good gap, and if it is, then it's one of the only opening drive trades I'll take. I prefer a broken-wing butterfly, so I don't need to worry about theta decay. But after yesterday, I'm considering OTM calls again. Using the anchored VWAP as your stop criteria or the 9EMA to ride the trend will help you stay in the trade longer. The Iron Condor I opened ended up in trouble, and the adjustment I made hurt because since the market gapped down today, the original Iron Condor would have ended up green. The mistake I made was waiting too long to adjust my Iron Condor. Links to the additional videos are in the description!
How do you choose to take this trade long on the gap up over 2A-VWAP rather than waiting for it to come down and test with a defense of the 2A-VWAP to take the trade long?
I like all your videos. This one I couldn't connect wit on the GEX. I need to get more acquainted with gamma exposure. Do you have other videos on gap-up rally trades?
What a day the SPX had yesterday! We'll usually get a nice up-trending day after the market trends down for a few consecutive days and then gaps up. I like to use the 2-Day anchored VWAP as a measure for whether it's a good gap, and if it is, then it's one of the only opening drive trades I'll take. I prefer a broken-wing butterfly, so I don't need to worry about theta decay. But after yesterday, I'm considering OTM calls again. Using the anchored VWAP as your stop criteria or the 9EMA to ride the trend will help you stay in the trade longer.
The Iron Condor I opened ended up in trouble, and the adjustment I made hurt because since the market gapped down today, the original Iron Condor would have ended up green. The mistake I made was waiting too long to adjust my Iron Condor.
Links to the additional videos are in the description!
How do you choose to take this trade long on the gap up over 2A-VWAP rather than waiting for it to come down and test with a defense of the 2A-VWAP to take the trade long?
Thanks for your videos! Much appreciated. Feel better! COVID - even the new variant is no fun.
This is what makes QTA amazing and get well Bryant
Thanks Niral!
I like all your videos. This one I couldn't connect wit on the GEX. I need to get more acquainted with gamma exposure. Do you have other videos on gap-up rally trades?
Thanks for the videos.