More SPY Puts! | S&P Reaches a 52 Week High
The S&P500 reached another 52 week high today. So I went ahead and pulled the trigger on some more SPY puts.
The last puts I bought caused about a 7% loss. The ones before that were a 15% gain. Before that, another 15% gain. My track record on SPY puts in the past month or so has been pretty solid thus far.
Today is no different. The market is overbought, but I feel like it's been overbought for months going on years already.
When the corrections will happen is anyones' guess. I'll continue to hedge my long-term strategies (which give me long exposure on the market as a whole) against these short-term hedges that allow me to participate in some small (or large) corrections in the market.
Today's puts:
- SPY
- $329 Strike
- 2/3 expiration date
- $204 per contract
- Target return = 15%
My aim with this play is that the market will open down tomorrow and allow me to have a swift and profitable exit. Considering a few factors (namely, volatility) I feel that this has a pretty strong possibility of turning out well for me come tomorrow morning. I'll push out an update with the happenings when the market bell ding dings.
Thanks for the update on SPY. Sounds like more goodnews Will be coming. May the market work in your Favour
It's triple witch Friday, so anything is possible...should be an interesting one.
When the Fed is buying.. buy.
Good to have this kind of posts, let us study your thought process when entering trades. How abt your stop ?
btw a few qns on leo,
maybe write a small how to...
I come to trading from a crypto perspective so I am curious how you trade stocks and where...