The notion that the entire global market rallied (and, conversely, made oil plummet) based on the mumblings on your leader continues to astonish me. I have put my money where my astonished mouth is, however, and this morning acquired an irresponsibly large quantity of SPY puts. Here is the /ES over the past twenty-four hours or so:
This top is simply irresistible. Keep in mind that my last nutty trade was last Friday when I bought SPY puts that expired yesterday (that is to say, they had only hours of life left in them). I got lucky with a 118% profit.
This SPY trade is also nutty, but not quite insane. Instead of giving myself a few hours, I’m giving myself a few days, which I might not even need. Suffice it to say that these puts expire on a date I feel is auspicious considering their bearish disposition.
