The spy stock price today is not the number that should decide your trade
Everyone quotes the last print. Around $771 at the moment, roughly half a percent below where the session peaked.
What I look at instead is where that sits in the range. The high over 52 weeks is $776.85 and the low is $629.28, so the price is hovering near the ceiling after a year up about 21.6%. J.P. Morgan just raised its year-end call on the index to 8,000 while other desks warn about a September test with breadth this thin.
Two credible views, opposite conclusions. That spread is the actual information, and it argues for smaller size rather than a stronger opinion.
My index exposure runs through a perp on Bitunix alongside crypto positions. Derivative rather than fund units, no distribution, funding charged while the trade lives, and leverage that brings liquidation risk fund holders never face.
Read the range, not the quote. Could be wrong, but that is how I trade it.
Everyone quotes the last print. Around $771 at the moment, roughly half a percent below where the session peaked.
What I look at instead is where that sits in the range. The high over 52 weeks is $776.85 and the low is $629.28, so the price is hovering near the ceiling after a year up about 21.6%. J.P. Morgan just raised its year-end call on the index to 8,000 while other desks warn about a September test with breadth this thin.
Two credible views, opposite conclusions. That spread is the actual information, and it argues for smaller size rather than a stronger opinion.
My index exposure runs through a perp on Bitunix alongside crypto positions. Derivative rather than fund units, no distribution, funding charged while the trade lives, and leverage that brings liquidation risk fund holders never face.
Read the range, not the quote. Could be wrong, but that is how I trade it.