/b adding SPY 121 weekly calls at 1.00 area doubling the contract amount, Covered short on SPY 119 weekly calls at 2.40 area , and shorted SPY 121 weekly calls at 1.10 area. So in other words we had a bearish stance on the markets yesterday but today with this strength am temporarily turning it all from bearish to bullish. First thing we did was to take the vertical calls shorts of 119 calls with 121 calls and doubling the 121 weekly calls position making that vertical spread of balanced. Then when the market moved higher we just covered the short of 119 weekly calls at 2.40 at a loss from 1.42 entry. After that we moved above 121 and I chose to make the position even more temporarily bullish bullish byes by taking the long 117 weekly puts position we have a loss on and using that as the long leg of a vertical puts short by shorting the 121 weekly puts at 1.10. Now out of all those positions the highest risk position I see here is the short on 121 weekly puts here, and with that in mind I have to put a mental stop on this position at 50% loss, or be ready to rubble the long leg if weakness reemerged.
adding SPY 121 weekly calls at 1.00 area doubling the contract amount, Covered short on SPY 119 weekly calls at 2.40 area , and shorted SPY 121 weekly calls at 1.10 area
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