How are yours looking now?
At 90% as of now.
fully out at +100% on my June calls.
That’s great! I sold mine when I hit 100% a few days ago. Averaging down helped me get their quicker than usual.
Data from a week ago predicted 520. Data now shows 69% chance of hitting 527 by 6/6/24. Interestingly, it also shows only a 52% chance it hits 531 within the next month so we must be close to a top. I’ll hold the SPX Put trades but I’m not putting on any additional trades today.
Here is the updated data for today.
Here is my account as of this morning:
CPI next week. Might be choppy until then. We got out at the perfect timing. We knew this was gonna retest the 523 resistance. Well played everyone. Will wait for the next signal. Hopefully it pulls back until CPI
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Should’ve done what I was going to do and close my $519 before CPI today as it was up 20%. Currently still up about 5% with 6/16 expiry. Considering just closing to keep the green streak going which would make it 7 for 7 on Brutus plays.
I guess another option is let it ride and average down if need be. If the model is correct and we climb toward 527 I’ll be all good.
and maybe enter the same ones after CPI with better premium? I have to say you have plenty of time on your play. Mine were 6/7 and got out only because i was +100%. at +5% i wouldn’t have get out. But that’s just me. What is your strike?
519 i see
$519 strike for 6/16. Yeah, that was my thought this morning…to just take the 20% and then reenter if I wanted if the CPI caused a dip.
I’m actually sitting here itching to add a second one lol
i would a second one if it drops to average down. Maybe you want to hold on that one
Thanks for discussing with me…I’m going to hold and do nothing for the moment.
When is CPI?
CPI is next week I believe, I probably caused some confusion earlier, sorry. I was actually referring to the Michigan Consumer Sentiment earlier today but just had CPI in my head apparently
Next Thursday
With these plays I’ve found I need to be willing to lose the entire premium I paid and just ride things out. I’ve lost several times on the see plays by selling too early. The data says it should rise 2% but it could take 3 or even 4 weeks to do so. I typically look to start averaging down when I’m down 30-50%.
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