Lions…
In my opinion todays stock market gains was a relief rally sparked by McCarthy folding to Biden on the debt ceiling, and then subsequent short covering.
As of now my second SPY trade/puts are down 21%. My first SPY trade/puts made 8%. As you also know, I did not go into this trade without a parachute, I remain net long with a large position in JEPI.
With that, IF my current SPY trade/puts lose 25% I will close/cover the trade.
Just a heads up.
GM
-22% is not bad . I got slammed on tesla on Friday then trying to hedge , then nothing worked out so I closed out all trades at a big loss all week😎 then yesterday I went for Tesla $170 May 19th calls heavy for a Hail Mary play 🤑. I did awesome today 😂 all losses + profits recovered.
The markets are in their death throes with volatility and zigzag movements up and coming. The money makers are going to try to freak out the bears and bulls with shell shock. The FED is crashing the markets and housing like 2008. I'm in December, March and June puts.
"Time is on my side, yes it is..."