Not yet, I'm looking at getting out of a painful put spread before adding any more downward exposure . My June 1230/1240 put spread was put on at exactly the wrong time by looking at the chart (we were still over 1300 at the time) needs to be addressed first. I was looking for the 200ma to hold but doesn't look like it will now. I do have a partial SPY spread that is helping offset the pain but I don't want to be around when the PCE number comes out Friday at this point. I'm with Rallymode, good news might be bad and bad news might be bad so I am going to cut my loss short. Of course the market may just shake everbody out that was holding onto the 200ma and then run back up once it has scared everyone into taking their losses me included.
Just a price gap that needed to be filled...it has now been filled so we will see if we rally from here to close above 200SMA. Otherwise.....look out below!
That's a couple bounces off the 1245 level. I still think that is the most critical level for the short term.
I feel your pain. i sold the 1215-1230 for 0.85 when spx was 1295. now 40-50pts lower, i was able to make some moves. I bought back 1/2 the 30's @9.3 ~1262 I sold 1/2 15's @ 8.4 ~ 1255 I went long on a batch of 1160's @4 ~1251 I sold the other 1/2 of the 15's @10 ~1250 Now I am looking for a bit of a bump to try to buy back the remaining 1230's. maybe for 11-12 (hopefully):eek:
Okay. From the bear-call only guy, here's the trade I was filled on today: June SPX 1320/1335 filled at $0.60 Relatively high VIX helped with the premium, the short is currently 70 points removed from the SPX and there is just about 3 weeks left till expiration. Only a partial position as I don't want to commit too much money in this crazy environment. Have done well on the way down with my bear calls, but even the pro analysts that I follow are surprised that we have come down this far. I have no bull put exposure at all this month.
All right, from now on I will not go to the grocery store on a down day! Every time I go in that darn store I walk by the wine aisle and they have Black Swan wine sitting right in front. It freaks me out every time!