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