Good afternoon everyone this is a trade alert for the 2 open SPY reversion to mean system trades:
Currently we have two open SPY system trades, which took long entries on Friday (great buy), the QE BTS and the Trend/Pullback systems. We bought SPY options and ETF's for these trades.
- QE BTS System - this system is exiting but not today at the close, instead it technically exits tomorrow on the market open. I'm going to split the difference and exit the SPY option today at the close and the SPY ETF tomorrow at the market open.
- Trend/Pullback System - we are following two versions of this system, one exits today at the close and one will continue staying long. I have chosen to exit the SPY option at the close for one of the systems and keep the SPY ETF for the other version, with a stop above entry.
The SPY option at Friday's close was trading at $19.9, and is currently trading at $25.5
Matt