Replies to post #138351 on SPDR S&P 500 (SPY)

[imiloa]

re: upward grind, it's a pattern i've seen a lot in SPY since january.
it's what i meant every time i've posted "bot grind" or similar this year.

for ref, the pattern is:
• upward trend despite high RSI/STO
• rapid drops on 2min & 5min STO on small dips in price, while RSI still high.

when RSI starts to drop as well as STO,
that's my signal to add some puts.

they often catch those dips and grind higher,
which is why you see me easing into spreads during these grinds.

all that said, the pattern is less critical for you
given your longer time frames.

your option prices don't change as much (percentage-wise)
with small intraday grind moves as our short term scalps do.

but always nice to buy puts from as high as possible...