Another SPY Short Position/Market Update.
From Greg M
Lions and friends…
My SPY puts have been on a wild ride since I bought them. As the market went up, after 2 days of dropping, I added substantially to my position- and I posted this in several newsletters.
This is what I intend to do with my position…
As you know, my puts do not expire until August. With that, I am willing to ride out more volatility however- IF the market drops again substantially like today, in the short run, I will then pull profits and follow that up with more put buying.
If you have not yet read the post below, you should. Its a newsletter on How To Manage A Swing Position/Trade in a high volatility environment.
GM
How To Manage A Swing Position/Trade.
Lions and friends… I want to take this opportunity to outline how to manage a swing trade in high volatility situations. I believe that recent events in the market present a great teaching opportunity! As most of you know, I went short ticker SPY on Tuesday.
Smart move
Thank you for all the help Greg!