SPDR S&P 500 (SPY)

[blasher]

I am currently Holding Short per my System
by Holding Long Nov-33-PUTs.
I am hoping for a Gap Down open tomorrow morning
at which time I will Sell-Short Oct-31/30/29-PUTs
which are covered by my Long PUTs.
The value of those Oct-PUTs should decay quickly
and I will get to keep most of the Premium I received for them.
Then I anticipate the market continuing to go South and I
will also be able to Close my Long Nov-PUTs at a Big Profit as well.
I bought the Long PUTs this morning and they just Closed
at a 40% Profit for the day.
I am gambling slightly by Holding overnight,
but I am trying to get as much as I can out of this nice Trend.
I can amplify my gains by selling the Covered Options
and collect Premium as I hold a winning position.
I've been Banking double-digit-percentage gains each day
during this nice Down Trend .. but may as well try for more ...
at least that's the Plan !!
LOL

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