-15 SPX; -32 NDX. There is no conviction in this light selloff. The flows do not support it. I'd fade it (long) but not this week.
IMO ......If not this week then it has to be next week and into earnings to go long - (Tech stocks, Nasdaq).
Took the ES Hedge off. Market keeps bleeding higher faster than MAY/JUNE is widening and would accumulate too large a loss before the FLY pays off. For the record the FLY is at -.30 so a profit of .39 on the FLY itself. Still holding to try and make up some of the loss on the hedge.
Looking forward to staying with this.. Always enjoyed your postings & hold you in high regard here, Atticus! Nice to see some of the OG`s/ Originals are still present & active... good stuff!
Dest4: Long the APR27 SPX 2600/2650/2750 231 in puts from 39.75 which is marketable. I am not finding a lot to trade today, so this is meh. Short leash. D-position is ok at -17 per. I'd rather be short than long as breadth is terrible, more Russia sanctions likely, Comey book, Syria, Cohen in court today.
Dest4b: Adding the calendar for vol and delta. $8 is marketable. Long APR20/27 2640 in puts. Ratio of two for each fly. Short an additional 4-deltas per. Delta-pos of (-17; -4, -4): 25 short per lot.