As anticipated, SPY
reached my "strong sell zone" and even with drop today, could eventually continue further in the zone. I closed my XIV
position two days ago with a +20% gain and yesterday I opened a short SPY
position by selling call option (credit or bear
) spreads. My previous positions have all been expired and this has been the first favorable opportunity this year to open additional positions.
ETFs/ETNs for anticipated shorter term moves (10 - 30 days) and selling credit option spreads when risk/reward is acceptable has work very well thus far.