SPY breaking out of the trading range to potential move higher.

The SPY has been trading in a range and is beginning to breakout out of the range. I'm using the Fibonacci Extension too to tag possible profit zones. I'm long the SPY with a 1/2/1 323/328/331 Broken Wing Butterfly 21Aug20 expiration. I paid a $1.36 debit for it.
Bullish PatternsFibonacci ExtensionTechnical IndicatorsoptionsSPDR S&P 500 ETF (SPY)
SupremeRe

Penafian