Sell Bullish Put Spreads - Support At SPY $195 Should Hold Thru March Expiration

One Option Trading Blog http://ift.tt/1QrneGZ Posted 9:30 AM ET - Central bank easing pushed the SPY through horizontal resistance at $195 and that sparked additional buying yesterday. The market was able to shrug off China's dismal PMI and once the momentum was set, it never looked back. I was waiting for an opportunity to short the rally yesterday morning, but the move never stalled. This breakout will lead to excellent trading opportunities. We were on the verge of falling into a tight range ($190 - $194) since the news will taper off. Now that we are clearly above $195, we will challenge horizontal resistance and the …