Power Levels to Watch Before the Opening
Welcome to Issue 027 of Masters in Trading Digest.
In today’s FREE MIT Digest, we start reviewing the charts to see where we are headed next.
We review a few trades shared in our Discord: $JOBY, $BKKT
How can we hedge our portfolio with options and futures?
You’ll enjoy this one!
Good investing,
Jonathan
[Major Level] Important Levels For the Week in S&P 500 Futures
We shared the below chart in Monday’s MIT Digest, along with the key support and resistance levels below.
Last Week High: $4585
Last Week Low: $4393.25
2 Week Ago High: $4586
2 Week Ago Low: $4393
Major support is $4393. If we can hold this level we should rally, and if this level can’t hold – be concerned!
Today’s Chart: Wednesday, 02/16 S&P 500 Futures Chart
The 200 period moving average (purple line) is $4449… we are BEARISH under this key level.
Expect the $4393 to continue to act as support, but regardless – the longer we stay under this 200 pd moving average on daily charts, the more bearish we trade.
Heard in our Options Discord
Wall Street Wiretapper, Masters in Trading’s AI-driven unusual options activity tool, continues to find trades that are ready to move.
Who had $JOBY and $BKKT?
Below, you’ll find the options tree for $VIX.
Pablo shared this trade as a way to hedge market volatility.
Two weeks ago, buying the $23 strike for $.70. If you buy these options 10x, that’s $700 of risk (and not a penny more). Today these options trade $1.75, or $1750. Not a bad 2-week return, eh?
NEW INSIGHTS POST
FINAL THOUGHTS
WHAT TO EXPECT IN THE NEXT MIT DIGEST
$RBLX earnings came out this morning and as I write, the stock is down 25%. I have yet to go through the conference call and hear management’s take on the latest earnings release.
In the next MIT Digest, we will review $RBLX.
Keep your feedback coming into support@mastersintrading.com. We’re excited to share your feedback along with fantastic suggestions for upcoming issues.
Until then, trade smart and always manage your tail-risk.
Thanks for reading,
Jonathan Rose
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Masters in Trading Digest - Issue 27
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