For all the anxiety leading up until today (I probably woke up ten times last night to see what time it was), it has been incredibly mellow. I have:
- Closed out my entire SPY puts position for a respectable 118% overnight profit;
- Reduced time risk by selling my one and only “earlier than June expiration” position, the DIA puts
- Trimmed a few options to reduce risk
As for my dozens of little equity shorts, I have, as usual, merely examined them one by one and tightened up stop-loss levels where appropriate, which was in many cases.
At this point, it’s all about the price gaps. The closer we get, the more appealing getting aggressive again becomes.
This is a bear market now. Strength is the bear’s best friend.
