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Because is the fund OEF, which is the ETF for the S&P 100. Because of the vomit-inducing rally, driven entirely by the federal government in an effort to secure a new term for the current administration, we have MATCHED the prior high TO THE PENNY. Allow me to hoist a pint of beer in the hope that this is a double-top, in spite of our idiotic government’s multi-trillion dollar efforts.
I have purchased a small quantity of June GLD $220 puts based on the price gap shown below.
OK, time for some self-flagellation. Let me set the scene: I was at Philz Coffee this morning, right at the opening bell and away from my computers (which is rather unusual). I was watching my positions, and the one that was really bugging me was Netflix (NFLX) which had climbed all night. I had September puts on it, and it was really going the wrong way. I tried to read the paper, but I couldn’t wait to get back to my machine and get the hell out of my puts, so I left. The moment I got home, I dumped my position at a loss. I think you know where this is going, because I’ve marked with an arrow the moment I dumped them:
A classic Slope long idea continues to thrive. I eat here twice a week, so that’s bound to help:
