Cortez's S&P500 account talk

[Show-me]

I'm leaning that way too. Nice chart work!

 

[ATCHUNTman]

Thanks for the info.

 

[Cortez]

I am going 100% safe haven today. Maybe F if AGG looks good. Otherwise G Fund. We are banging against former support at 1490 area and the upper level of a downward price channel on the 20 day / 1 hour chart. See below.

 

[Cortez]

The buyers pushed all day trying break 1495 but couldn't keep the market higher. Still following the downtrend channel established in the 20 day / 1 hour chart below.

Today, I bought puts on SPY at 1490 and regret getting busy and missing the opportunity to take a profit and avoid the potential for a gap up open wiping out my gains. Could also work out in my favor if it craps on cpi news.

 

[FUTURESTRADER]

sold 5 s&p 500 1380 big contracts for $.30 each today..expires friday...thats $56.50 each after $18.50 comission each...$282 ttl net point n click..pretty sweet...will be in a margin call but that holds off for 5 days..expiration in 2 days..unless S&P touches 1380 before then...not

 

[Cortez]

sold 5 s&p 500 1380 big contracts for $.30 each today..expires friday...thats $56.50 each after $18.50 comission each...$282 ttl net point n click..pretty sweet...will be in a margin call but that holds off for 5 days..expiration in 2 days..unless S&P touches 1380 before then...not

Personally I would close out of those puts if 1400 is broken. You have to protect your short strike with a buffer. However, it appears to be a safe OTM credit play.

 

[Cortez]

Buyers gave it a shot this morning and didn't surmount much of a rally. Will sellers do their afternoon thing again? I expect it to remain relatively stable this afternoon with a slight downside bias.

 

[Cortez]

sold 5 s&p 500 1380 big contracts for $.30 each today..expires friday...thats $56.50 each after $18.50 comission each...$282 ttl net point n click..pretty sweet...will be in a margin call but that holds off for 5 days..expiration in 2 days..unless S&P touches 1380 before then...not

I closed out my puts at the close today for a 32% gain on 5% estimated risk. The SPY 145 area was being heavily defended either by buyers and/or shorts and put buyers exiting. Looks like your 1400 SPX puts are safe absent a catastrophe.

 

[Cortez]

The downside risk is too great to enter into this market. This is a time to keep greed in check until the market reveals some strength. Staying 50%G, 50%F.