SPDR S&P 500 (SPY)

[Perseverance71]

I seem to have ruffled some feathers earlier so I will be upfront about what I am thinking. I almost sold my puts today around EOD. While yesterday the chart setup for todays drop was obvious (IMO), at the end of today I was considering today might mark a short term bottom. I decided to keep holding and just see what happens (a gamble).

So while my put buy yesterday was based on reading technicals and reaching a conclusion on what to do, from here I am not so sure. I didn't foresee china tanking like this again. Taking into consideration whats happening in Asia, I'm reaching a new conclusion that we will go into low 190's next week, and will be looking to keep holding puts and buying some UVXY common in the next few days.