Options swing idea on SPY. Loo

Options swing idea on SPY. Looking at Oct 23 $770 calls, entry range around $765 to $769, with a stop on a close under $758. Targets would be $774, then $781.62.

The setup: Nasdaq just had its worst week since June and chips fell 8 straight sessions, but futures are green into Monday. $SPDR S&P 500 ETF Trust(SPY)$ closed Friday at $763.25 after defending the $760.64 low. This week is a gauntlet with $Netflix(NFLX)$ Tuesday, then $Tesla Motors(TSLA)$ and $Meta Platforms, Inc.(META)$ Wednesday.

The plan is simple. If $SPDR S&P 500 ETF Trust(SPY)$ holds the reclaim of the $765.71 pivot, the bounce has room to run. If it closes under $758, the idea is wrong, full stop.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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