There’s a good case to be made now for SPX 4400 / SPY 440 target on puts. This area looks likely to hit given the recent breaks.
For more on analysis of support levels, see: Drop setup looks good. Let's plan support levels. (substack.com)
We now have various ways to support a 4400 target in SPX and we also have a good case for this to be a fast swing, making it one profitable to speculate on OTM puts. Based on our established support levels we can take strikes of 4450, and 4420 puts.
Let’s look more a the analysis for this and selecting timeframes;
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