On this very quiet weekend, I thought I’d check in on the three ETFs against which I own June 2018 puts. As is obvious, these are puts with a deliberately large amount of time left on them (nearly 200 days), which gives them at least some opportunity to work out. Recent market action hasn’t been terribly encouraging, but they’re all three still in the money, and like I say, there’s lots of time left.
The first one is the financials, which has one of the cleanest analogs I’ve ever seen in my life.
Given its insane movements, who knows where $BTC will be by the time you read this, but as I’m typing this on Saturday evening, the cryptocurrency has lost a full 25% of its value in the span of just a few days. I remain slack-jawed they are rolling out derivative trading instruments on this thing. I mean, look, I don’t have a dog in this fight, but what if $17,300 was the peak, and this thing just craps itself back down to $1,000? The hype will vanish.
Depending on where you live in the country, you may or may not have any knowledge about Chinese superstition with respect to numbers. . I’ve got a passing understanding of it, which is why real estate ads like these (which I just tore out of the morning paper) strike me as intended for Asian buyers here in the SF Bay Area.
A modest storm by US standards is passing over the UK. We have enough snow for a modest selection of snowballs, and I’m planning a quiet weekend in, relaxing while doing no more than an absolute maximum of seventy charts and three videos before Monday. I might light a nice coal fire if the snow lasts.