319.27 is the "100%" gap fill, but we just touched 319.69, that just about does it. Now the day can begin.McInnis 03 said:
/ES volume is at a point where a gap fade play is viable. This is a daily play where you fade the gap at open with stock or with a 70 delta option. It's a gap up today so if you play it, you might take a position in a 70 delta put or similar......you may not choose to play with the expiration that's today because if gap fill does take place you may not get it until late in the day and theta could kick you in the junk.
(For y'all in the MTT book, this is the play detailed in Chpt 7)
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B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3
B&I Key:
ETH - Extended Trading Hours --- RTH - Regular Trading Hours
ORH - Opening Range (1st 30min) High --- ORL - Opening Range Low
R1, R2, R3 - Resistance 1, 2, or 3 --- S1, S2, S3 - Support 1, 2 or 3