My old thread got to be too long so I wanted to start a new one. I will be trading SPY and SH. Maybe some options. Maybe. Timeframe is days/weeks/months. I haven't traded intraday in over a year. I'll post P/L charts daily like I did in my last thread. Limit order to buy 100 SPY @ $138. edit - fixed typo. I originally said "SSO" but I meant "SH." Sorry for the confusion. I will be trading SPY and SH (inverse SPY).
Entry filled right before the close. 7/31: Open position: SPY: -$36.00 No chart today because it would only have one data point on it.
Whoa look at price fall. I'm thinking about buying 100 more SPY @ $134 but no order has been placed yet.
Considering selling a SPY option, of course the problem is I have no idea if price is going to keep going up or not. A $140 call right now would give me a max of $200 of profit (since I bought my SPY at $138) plus the $124 premium. That doesn't include commissions. Of course if price goes to $145 by expiration then I missed out on an additional $500. And if price falls to $135 or whatever then I get to keep my shares (which I would do anyway) plus the premium.