I bought the SPY NOV 117 put, I am looking for a bit longer of a trade, and want to sell a lower put to reduce risk for example the 112 put. I believe the market is about to go lower, so will either sell the put as the ES falls 2 points or before end of day to prevent time decay.
Ok, cost has been reduced by $ 111, so total risk on this trade is $ 137, and potential profit is around $ 450.00. However, the lower put should decay faster than the higher put unless the market moves down sharply.
You mean the ones with VWAP worse than 1170 ? Oh yeah, they have to buy - otherwise $100 million loss day looming ;=)
Eur shot up again before market close, so took profit and will look to get back into trade on Sun or Mon. I wish I did more contracts, but I thought Eur would be dead this afternoon and did not want to hold a big position over the weekend.
and close the first one here for +4.25 Dips in the ES are rare, but make for great long opportunities