Snapshot of the possible Head and Shoulders pattern forming here in the S&P500. This is the trade of the week. I have accumulated a short position in the SPY:
11 Long SPY July 17 2020 220 Strike Puts @ 4.41.
I am currently taking a beating as the market holds. Average price is 1.48 currently. My task is to roll this position forward skillfully, minding time value, while keeping the bearish positioning at all times. For that reason, I have laid out possible areas of support to roll forward.