Daniel Urdaneta
Short

Short SPY: Offer US Equities on China Deval scare

AMEX:SPY   SPDR S&P 500
SPY             action             has been getting pretty choppy as of late, with lots of intraday volatility and monstrous o/n gaps. I want to play it like this (There can be NO gap over 210.85 after the CNY             deval thing in China that is causing some jitters in the Asia session; that's part of the rationale on shorting this, which would otherwise look pretty appealing for a Long):

Sell short XXXX SPY             limit 210.85

Sell short XXXX SPY             limit 209.99

Buy to cover XXXXX SPY             limits 207.90 / 205.40 / 204.60 (1/3rd each).

A bit conservative to get back into the game. Let's see how it goes!
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