My one and only index put (.SZPWE – SPX NOV 1225 Put), purchased yesterday, I have sold off. I usually don't have such a microscopic lens on every little wiggle in the market, but the fact is that this Congressional vote is sort of like monkeying around with the markets around a big Fed announcement – – fraught with risk!
I made a nice profit on my put, and although obviously I'll be disappointed if there's a surprise in the voting tonight and the S&P plunges tomorrow, I don't want to risk my money on guessing games like that. I don't feel very safe shorting broad indexes right now, nor do I feel safe going long them. I confess, I'm not the sort who does well with a ton of cash sitting around in his account yielding 1% annual interest, but there are times when it's best to just sit tight. I'm going to try……
