Yesterday's PRO updated the Key Levels for initiating new option positions in QQQ, SPY and VIX. At the time, none of those key levels appeared threatened. Twenty-four hours later, all of them appear threatened (VIX just confirmed) and in fact, one more leg down away from being triggered. One of the benefits of being on the PRO list is you will be first in on any new short to intermediate term positions, and that includes these three new trades anytime these levels get breached and appear to be closing beyond the stated price levels. The only question is whether to buy August or Sep monthly expirations. Easy answer: Some of both. SPY - Intermediate Term Sell Pending on SPY Close < 450.00 This is a major Intermediate Term reversal in trend to be acted upon by both the Premium and PRO trading Services, On SPY close below 450: Buy to Open: SPY Sep 15th $450P (7.10-7.15) Targets: SPY <400; $450P > $50.00 Stop: 50% Trailing QQQ - Short-Term Sell any drop < $375 ON QQQ DECLINE < 375.00: Buy to Open: QQQ Aug 18th $375P (5.78-5.80) or Sep 15th $365P (5.79-5.80) Targets: QQQ <350; $375P >$25 Stop: 50% Trailing VIX - Buy confirmed above 15.00 Calls to Buy (some of each) VIX Aug 16th $18C (1.05-1.08) VIX Sep 20th $20C (1.69-1.70) VIX Target: 20-50 No stops - 1/2 positions
