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.
Looking for a move down to 107.50 to fill the gap up from 11/6/09. Could possibly be a day trade.
ReplyDeleteWith this trade I am basically delta neutral.
Does delta neutral basically mean that you shouldn't make or lose any money?
ReplyDeleteWere those Feb puts you bought?
ReplyDelete