How Low Will SPY Drop?

How Low Will SPY Drop?

SPY is set to gap down huge and open at 105. I should have held my puts overnight! I'm still holding my 108/109 put spread. I will most likely be selling the spread at open. I have drawn a bunch of support trendlines below in an attempt to identify where SPY may hold.

From the trendlines, if SPY doesn't hold 104.2-104.5 then it could be a swift drop to 102-103. And if SPY doesn't hold 102-103 it could hit 99! Don't go long, wait for SPY to hold first.

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