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BookingAlpha Option Trading Advisory

Tuesday, August 25, 2015

The Bear Lives On - Bought cheap Protection

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)

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