Well, for anyone who lost sleep over my SPY $660 put options, it worked out great with a nearly overnight doubling. Below I’ve marked where I bought them with green arrows. I bought my first block (intending it to be the entire position), but after that lying sack o’ shit Bibi did his ridiculous “all is well” press conference and blasted markets higher, I threw caution to the win and DOUBLED the size of the position. The red arrows marked the places where I sold ’em off, fast as a sumbitch. HUZZAH!
More important, I think that at long, long, long last, we’ve got a phase change. The horizontal below has acted as support ever since Grover Cleveland was President, but my perception – – and I’m going out on a limb, because it only just happened in the past few hours – – is that the nature of this line on the /ES has morphed from support to resistance.
Which, if true, means that bears are going to have an amaze-balls time very, very soon.
I am positioned over 200% short across all portfolios. Onward!
