Took My Put Profits

By -

Earlier this morning, I sold my SPY October $245 puts for an overnight profit of over 50%. I have several remarks about this:

  • It’s kind of stupid of me to buy options that don’t expire for something like ten weeks and sell them the next freakin’ day, but what can I say………I’m a wimp.
  • I’m going to be driving 20 hours (round trip) to see the eclipse Monday morning, and frankly I’d like to enjoy it without worrying about my stupid options position.
  • I hardly ever trade options.………literally one trade for every few hundred equity trades…..but I had a “feeling” yesterday morning to give it a shot.
  • Most importantly, this trendline below compels me to not be greedy.

0818-spy

Of course, this all probably means a CRASH on Monday, so………you’re welcome!

Share this post: