Exit
$0.37, 141 SPY calls
Loss
- 2 cents per contract [-5%]
Plan didn't work out, and I don't like the short-term indicators right now, theta would kill these options if SPY goes flat in the afternoon. The loss isn't bad considering if we had chased at 0.42, we would be in a very different situation right now. Will need to stick with higher probability set ups in the next few trades to not go red in portfolio.
Most likely won't trade weeklies tomorrow because of Bernanke speech at 10AM, and will hold onto existing Sept SPY Puts and SPXU shares, still feeling unfortunate that last batch at 40.05 didn't fill.
-Red Apple
