Thats a fierce position size, i commend that. I agree with direction, fib timeline shows the real move might happen end of march. But it might aswell just get going now. gL
I like your thinking of avoiding intraday if it is unpredictable to you. The only thing I would worry about that trade is between now and June, you may get Fed talking Dovish during their March meeting due to concerns about economnic growth. I think we have to remember that the Fed can be a risk to BOTH the upside as well as the downside. As the fed has been the friend of the bear so far, that could quickly change unpredictably.
i'm keen on a 170p as well, but thinking may exp, and am waiting for a strong SPY rally to enter. as i'm still wary of another october after the recent weakness.
if no strong SPY rally will just keep scalping intraday.
Well that could be considered somewhat late in the game.... That position "should'a been" adopted at the break of the blue line... For if we DO get a 1900 bounce (which'd simply be an up-spike up off the black line), those options could potentially run outta time. I personally would've probably targeted at least maybe August, for things might need some time before diving down towards the purple....
PS : I'm actually thinking that what happens here in INDIA might be Significant :
Fwiw I think these will be fine before expiration. Sure it easy to say the entry was bad, but I think we test or break 181 on the next move out of over bought. I'd say that comes by early May. Should bring these back to life. Just could be a rough couple weeks should we grind past 195 in the interim
Sold June 170P at $0.21 from $6.85. Salvaged 4K. When it clears tomorrow I'm gonna use it to buy my girlfriend some expensive clothes and eat out at expensive restaurants, that's a better investment then long term puts at this point in time. I'm not even the slightest bit mad, no one could of known the fed would lift the market like this. Life goes on.
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