Strategy Based Options

[pennypuptech]

Due to the failure of the SPY to hold the open price, I picked up puts... here is a new chart. Tough to see if this trend holds or not but the SPY was due for a much needed pull back. Rememeber - we buy puts at high RSI, and buy calls at low RSI.

Right now the puts aren't working too hard as the price bounced off the first fib line.

http://stockcharts.com/h-sc/ui?s=SPY&p=2&b=5&g=0&id=p27257371832&a=290063525