At this point, I might as well become a permanent resident of North Carolina, since I cannot seem to wrench myself back to my own time zone. I saunter off to bed at 8:30 like an elderly inhabitant of a retirement home, and I’m up at 2:30, ready for the new day. It’s ridiculous.
Anyway, I’m sorry to see that equities have strengthened overnight, pushing above what HAD been a tidy little short-term top on the /ES. My “devil may care” purchase of short-term SPY puts enjoyed a quick 30% bump, but instead of making it a quick scalp trade, I held on. Bye-bye, quick profits.
The Russell futures have also reached short-term escape velocity. Of course, this isn’t necessarily the end of the world, but “hoping for failed breakouts” isn’t much to go on. Suffice it to say that I should probably remain where I am comfortable, which is very long-dated put options, as opposed to monkeying around with day to day gyrations.
Oh, and if you sensed that the world just become a little darker, and life became a little sadder, there’s a reason for that. The threats surrounding the never-ending FTX saga have been realized, and it’s probably best not to venture into the digital world for a while.
