Hello Everyone,
Back on Jan 27th we showed the S&P 500 chart with a triangle pattern forming and suggesting a possible drop to the bottom of the triangle.
A drop over the last several days and this mornings fall in the futures has taken it to that level around 2000.
A break of the lower trend-line could signal a further drop in this index, possibly to the 1800 level.
A mid-level IV would indicate a put debit spread or puts could be utilized here for a trade.
Posted to Stock & Option Scout on Jan 30, 2015 — 9:01 AM