So today, I made a play based on my past experiences. I sold puts the moment price broke out past the first level after the bullish atr level which I marked with the dotted red line. From past experiences, I noticed that a good 90% of the time price would continue further until it reached the green trigger level and sometimes would go even further. It was the same for the bearish atr level. If price went past the first line after the bearish atr level, it would continue further normally. Deltas at the time were a bit mixed but majority of them were bullish and the 9/20 ema lines(white/yellow) were also pointing for short term bullishness. Price was also outside of the SD1 from VWAP which means that as long as price stayed outside the bands, we would continue to go upside. The strikes I chose were 6895/6890 Puts. It was the closest to $0.60 premium. The price I had been able to sell was $0.55. As of now I do believe I should be able to close at $0.10 premium if price just hovers around this area for another hour or two. It is currently 7:36 AM PST.
UPDATE: It is 7:54 AM PST and I was able to close everything for $0.10. I posted the data and also how price moved for SPX on Tradingview. I’ll try to see if I can find another position to get into if there is an opportunity. Since MVC is 6970 I set an Alert at 6965 since that is 5 points away from MVC. If price hits that before 10 AM PST I’ll look for a position to sell calls about 20 points further from MVC. like 6990 or even 7000 if premium is enough.