Wednesday, January 27, 2010

Market has continued to breakdown

There was a bear flag forming on the SPY and this morning it has broken that flag to the downside. In case of a further down move I bought 5 SPY 108 Puts @ $2.13. I will post my position summary and all that on Friday the last trading day of the month.


  1. Looking for a move down to 107.50 to fill the gap up from 11/6/09. Could possibly be a day trade.

    With this trade I am basically delta neutral.

  2. Does delta neutral basically mean that you shouldn't make or lose any money?