A Few More Puts to Add to My Position

I just added a few more SPY puts late this afternoon to take advantage of the short-term overbought state of the major indice plus the unfilled gap from yesterday. I will look to close part of my position once the gap fills at $110.86.

Here is the trade:

My Options Portfolio is now roughly 70% committed to the short side. Again, I will be watching to see how the S&P reacts around what has been a strong area of overhead resistance. We could blast higher from here, but we could also move significantly lower. Of course, as you can tell from my recent trades I believe in the latter.

I hope all of you have a wonderful night.

Kindest,

Andy