Family Account Options
- $SPY $665 PUT 4/24 : Open
- $SPY $709 PUT 4/24 : Open
Main Account Options
- $SPY $640 PUT 5/15 : Open
I opened up the $665 PUT the day before the gap up to $676 and then held too long thinking the gap will fill . No point in selling that one early. Regardless , the position will remain open and has been risked down to 100% loss . I opened up $709 PUT today around $710 after the price action did a nice $2 drop from $712 . Regarding my $640 puts for 5/15 , those will remain open until I can gauge how deep this next retrace will be .
I was expecting SPY to drop considerably hard this week and i got the exact opposite . Such is life , a lot of lessons were learned this week especially regarding how I view overbought RSI’s and SMI’s . I do believe those i was a week early regarding my sentiment . It would not surprise me to see us drop substantially hard starting next week into May where we find our bottom around $600 - $615 before doing our seasonal pump into the summer .
Let’s see how this turns out by end of next week
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