Option Strategies: .SPX, ALLY& AXP

Hello everyone! Today i want to share some trading ideas with you!

1.

We feel compelled to trade $American Express(AXP)$ for earnings being an #amex cardholder. Expected move is 4% for tomorrow, 5.3% for next Friday.

Gonna write puts at the 285 and 280 levels, Oct 24 expiry. Both those strikes are below the volume point-of-control and strong support.

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2.

So tempted to trade $Ally(ALLY)$ for earnings. Ideally looking at the $29 strike for a put-write trade, but would be forced to go out to Nov 21 expiry to get premium as Oct 17 doesn't exist.

Don't feel like holding a trade until mid-November if it goes against us. And not as comfortable writing the $33 put strike for Oct 17 expiry.

Still got time to decide, but may end up passing on this put-write optionselling trade.

Stock chart for Ally Financial on NYSE displayed on a dark background with multiple colored candlestick bars showing price movements over time, overlaid with yellow and blue volume histograms at the bottom, horizontal support and resistance lines in orange and red across various price levels from 28 to 44 dollars, and a timeline axis from July to October.

3.

$S&P 500(.SPX)$ 6600 has now become the strongest gamma stack 🧲 on SPX for 0DTE today. 6550 still last line of defense.

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