As you know, or should know, buying options is one of the riskiest and hardest ways to profit from the market, (and statistics continue to prove this out as MOST option buyers LOSE money). though they are still a great way to make money with certain trade setups and in certain market conditions. and to be enter trade precise and take profit. Bec high IV option premium is expensive now. The longer you hold the lose money fast if it not go up. Take profit, day trading is all we do now.
Stock futures jump, Dow futures add 200+ points as Covid-19 vaccine, treatment hopes rise.The U.S. Food and Drug Administration (FDA) on Sunday said it issued an emergency use authorization for investigational convalescent plasma to treat Covid-19 in hospitalized patients.
SPY + 2.55 @ 342.13, expect open to run up to 342.50-343 area, should fall back to 341.50 -341, break 341 to 340-339.50 but should bounce up again. Stock will not go one way.
Trade for today:
Buy SPY 344 put 8/26 after run up to 343.50 -344. cove accordingly to @ 341.50, wait may or may not go lower , to buy 340 call for swing.
FB upgrade by Citi, target 315, expect low 268 high 273-274. Buy 270 call.
AAPL, the hot stock in last 2 weeks , I would careful not to jump in long today, look for pull back to 507 area, high 515. I like 510 put, for scalp. Long it @ low.
Stock open high, be patience wait it come down or go up to see what should you do, long or short it. jackson hole ,stimulus bill is still ahead and Trump republican convention certainly will push the market up.
Good luck.