Replies to post #170290 on SPDR S&P 500 (SPY)

[imiloa]

still sidelines for now. i bid on COST dec18 puts at the open, but too low and didn't fill.
not gonna chase. but might add some puts if a decent rally stalls at high price.

logic is that COST earnings at down 7%
while COST was at all-time-highs
enjoying at 31 P/E ratio.

with membership growth declining,
that shiny P/E ratio will also drop.
so we may see a 10-15% drop in COST over the next couple weeks.