Spy going forward.

Chart:

The latest arrows are the current strikes for minimum target spreads for me now. Note that the price is in the middle of the current linear regression channel. had the price been near the top, about $2.50 higher, the best strike may have moved up 2 or 3 points to match. That puts me at the prime point to enter a call spread... 119, 120 would feel a whole lot better to me.

Same deal with the puts, more or less. given a price drop to the lower side of the channel I might expect the premiums to jump to place my minimum target strike another $1 lower... just due to the relationship between increases in volatility as the market drops and the premium on put options.

I have two trades expiring Friday and these may free up some capital for me to place trades next week so I have to wait, but I would have waited anyway.

I did February expiry's out of curiosity. Calls would be 119 and puts at 106...not the best even though the puts are well outside of the technical resistance. The call certainly are not.

Jeff