covered then bought same contract amount of the SPY 121 weekly puts at 1.96 area, also shorted SPY 118 weekly calls at 2.08 same contract amount as the SPY 121 weekly calls long

/b covered then bought same contract amount of the SPY 121 weekly puts at 1.96 area, also shorted SPY 118 weekly calls at 2.08 same contract amount as the SPY 121 weekly calls long. The market failed to make the continuation move towards larger term fib levels today so with that am refocusing bearish and doing it this time by taking losses and making the new position bearish even more aggressive. We covered at a loss the SPY 121 weekly puts at 1.96 from 1.10 then went long same contract amount, in essence making the buy back twice as big as to, on a market pull back, make back the loses penny for penny. This makes the position very large, but since its in the money the % moves are smaller. Also we still hold the long on 121 weekly calls and instead of reentering same contract amount short on 119 calls, that we had before, am now willing to short in the money 118 weekly calls same contract amount making that position bearish considerably larger. Now that we have the short on 118 trough 121 this puts a very large spread between the two, so the intent is to exit the long and find a closer in strike long as premiums decay further on calls. As mentioned before will continue attempting to make bearish bets at these critical market point and each time we attempt it will make the position progressively larger bearish. Right now have made the bearish bets on SPY very very substantial.

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