Just a quick post tonight…absolutely exhausted.
As a famous man from L.A. once said, “today was a good day”.
XOP was down over 2.5% today, so I decided to lock in profits on our XOP puts. I hope some of you were able to take advantage. The pullback also helped out our credit spreads in SPY. And best of all, the pullback has given us the opportunity to add a few more positions.
I really like FXI, USO, and TBT right now and even XOP still intrigues me. I will short the latter with puts again if it manages to bounce higher over the next few days. But all of these offer good opportunities to sell some premium. Indeed, the risk/reward is very high for those willing to take on bearish strategies.
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Kindest,
Andy
