S&P 500 FUTURES Daily Renko Chart 4/12/2021 – Stunned. Buy-Write SDS.

 Below is the S&P 500 Futures Daily Renko chart.  RSI is at 94 and the price is 4121.  All possible signs indicate an imminent correction.  I opened a conservative buy-write position today.  Bought SDS at 10 and Sold 06/18/2021 10.00 Call at 0.55.  SDS is ProShares ETF seeks a return that is -2x the return of its underlying benchmark (target) for a single day.  The base for my purchase would be 9.45.  My maximum profit would be $0.55, which translates to a decline of the S&P 500 by approximately 3%.

Leave a comment

Your email address will not be published. Required fields are marked *