Still remain bearish for SPY from my previous trade
Updated
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.
Note
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, 2021Note
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.Note
Bitcoin going to the moon!Note
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.Note
Closed for $144 profit, will reopen if it reaches a high of high of $392.50 for SPYTrade 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.Note
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.Note
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.
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