Up or Down?

Discussion in 'Trading' started by J.Joseph, Aug 23, 2011.

Will SPY reach up above 121.5, or down below 107 first

Poll closed Aug 25, 2011.
  1. Up

    1 vote(s)
  2. Down

    2 vote(s)
  3. Neither, not within a week at least.

    2 vote(s)
  1. I am uncertain of which way the market will go. I do believe it will go far when it does move, and have a target of at least 107 in the SPY if it goes down, and at least 121.5 if it goes up. I believe whichever it is will be reached within 6 or 7 trading days. So, not wanting to miss out, I bought OTM calls and OTM puts both with a .3 delta. They're 9 weeks to expiration to limit time decay, and I plan on selling one when a clear direction presents itself.
    Anyway, I just wanted to get some opinions here from directional traders. Please don't waste my time with posts like "It doesn't matter if you use this other strategy that you know nothing about." That's not helpful. Thanks.

    So, which direction do you think it will move in next? Up or down?
  2. Your question is incomplete: you should add WHEN.