So if the buyers think we can trade 3700s (+20%) this year

Assuming 2:1 reward leaves a 350pt stop if they buy now

Risking $17,500 per contract or 11% decline. Less with hedging

2660s could be their breaking point

The buyers &gt;3200 likely already stopped out

#es_f $spx $spy https://t.co/dN8yeZrHOM