Today I bought an out of the money SPY Put as protection insurance upon seeing the market close at the lows of the day, which doesn't bode well for the near future.
It is not my style going long options, but this is an exceptional market environment. Forget Technical Analysis & Fundamental Analysis. The market is in capitulation mode. This purchase is just a small insurance. A small cost to pay for a little piece of mind.
SPX Chart after market close today for future reference. I went back to 2013 to reflect where we are in the big picture.
(Click on image to enlarge)
Check out 2015 Track Record
Bought September 145 SPY Put for 0.47 debit. Crash mode. Protection is needed. A little insurance here doesn't hurt.
— The Lazy Trader (@lazytrading) August 25, 2015
It is not my style going long options, but this is an exceptional market environment. Forget Technical Analysis & Fundamental Analysis. The market is in capitulation mode. This purchase is just a small insurance. A small cost to pay for a little piece of mind.
SPX Chart after market close today for future reference. I went back to 2013 to reflect where we are in the big picture.
(Click on image to enlarge)
Check out 2015 Track Record
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