SPY LOOKS LIKE A DUMP COMING - BUT WE KNOW SPY LOVES TO LIE
All,
Pretty obvious rising area here which usually results in a dump. Personally I would be split here on calls and puts and wait for conformation. I give it 70/30 odds it drops.
However, I think we all know SPY/market loves to give an impression and do the unthinkable.
A) can we get positive news on war
B) can we get sp500 ER / good news on some ones that are down
C) positive fed news of any kind / inflation news
A combination of TWO of these would probably breakup and cause a parabolic move up if that I think to 440-450. Either way always make sure to cover yourself in areas like this. You can always sell your call options for a 10-20% loss, which will easily get covered by your PUTS. Don't get greedy.
Pretty obvious rising area here which usually results in a dump. Personally I would be split here on calls and puts and wait for conformation. I give it 70/30 odds it drops.
However, I think we all know SPY/market loves to give an impression and do the unthinkable.
A) can we get positive news on war
B) can we get sp500 ER / good news on some ones that are down
C) positive fed news of any kind / inflation news
A combination of TWO of these would probably breakup and cause a parabolic move up if that I think to 440-450. Either way always make sure to cover yourself in areas like this. You can always sell your call options for a 10-20% loss, which will easily get covered by your PUTS. Don't get greedy.