Still remain bearish for SPY from my previous trade
Still remain bearish for SPY from my previous trade. Opened new position. Bought 1 Put expiring on Jun 18 2021, 124 days till expiration, at strike price $388. Breakeven is at $370 on expiration. Max loss $1,800. Readjustment of breakeven to $358.10 for including max loss on previous trade, 85 SPY Put Buy at 271 and 85 SPY Put Sell at 266 for $0.14 and expires on March 31, 2021 which was max loss of $1,190.
Comment:
Return to 50 day MA $342 and 200 day $290 is what I am hoping for. If not still going to accumalate Bitcoin and still exposing my self to the Stock Market till June 18, 2021
Comment:
Red line at $252.74, 35.63% 2020 Correction, is SPY closing at $392.64 on Feb. 12,2021 multiplied by 35.63% gives $139.89, then subtracted from $392.64 gives $252.74.
Comment:
Bitcoin going to the moon!
Comment:
Closed for profit $95. Based on the 4 HR and TD Sequential, it is on a red 8, may bounce. On 4 HR, Keeps hitting 50 day MA, may bounce.
Trade active:
Reopened the trade again before market closed for $17.90. Same Option Contract. 1 Put expiring on Jun 18 2021 at strike price $388. It lost about $100 worth of premium after I closed.
Comment:
Closed for $144 profit, will reopen if it reaches a high of high of $392.50 for SPY
Trade active:
Rebougt a higher put when spy was around $392, 1 Put $391 for $19.27 for Jun 18.
Trade closed manually:
Closed, did not acerlate at morning to the downside. May climb higher. Lost $30 for closing and accedently opened a new trade but closed for $20 loss.
Comment:
Lost confidance trying to short (puts) the SPY. Will wait for it to correct and go long on daily $340 200 MA and or Weekly $290 200 MA if it comes down. Will be focusing in College in the mean time.
Comment:
Buying puts is like hoping for consecutive days of losses for the stock market as a whole. You will most likely be wrong until the trend reverses and your right unless the premium is already stripped away with expiration looming.
