$SPY Options - Bull & Bear | February Week 2

We have been range bound the last three weeks. Sellers are starting to exhaust buyers more quickly than before. We are leaning bearish but confirmation is king. We use 15-30 minute candle closes for confirmation and stop-loss.

Should there be a significant pullback, $580 and $560 are major floors of support.

Here are our bull and bear options for this week:

$600 PUT 2/24
Entry: Confirmation of breakdown under $603.44 (OR harsh rejection at $606)
🎯Target: $600 ($603.44)

$608 CALL 2/24
Entry: Confirmation of breakout over $606
🎯Target: $607, $608

Here's how last week's options went:

📜 SPY $605 Call 2/21
$500 → $770 (+54%)

📜 SPY $605 Call 2/18
$350 → $645 (+84%)