Checking In on the Triplets

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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.


My least favorite of the three, Industrial Select, has been annoyingly robust (just like its cousin the Dow 30 Industrials). I’ve trimmed back on this, and I may well kick it to the curb altogether.


The best chart (so far at least) is the Consumer Staples, which has clearly broken its channel and whose recently rally has done nothing more than get it back to the underbelly of its now-broken supporting trendline.


This trio of positions hasn’t been worthy of celebration, but I’m willing to be patient right now.