Replies to post #39146 on OPTIONS TRADERS CO-OP

[gdl]

Sold 200 SPY 280 @ 1.76 plus 1.36
Sold 100 SPY 277 @ .69 loss .27

Bought 200 SPY 276 Puts expiring 29th @ 1.03
Still have 200 SPY 272 Puts expiring 27th (assume it will die worthless)

I am still convinced we drop hard. Today there were extreme number of very bullish short term candlestick patterns that managed to eek out the small drop today. I consider that negative since we couldn't rally positive from the extreme drop of Friday.

Rolled over my 280 expiring Wed. to Friday 277's.

*** Want to stay in the game since i still see a big drop ahead.
=======================================================================

Recap current holdings: 200 SPY 276 Puts expiring 29th @ 1.03
200 SPY 272 Puts expiring 27th @ .25

Hoping for a big drop tomorrow but it now looks like the drop will not bottom till Friday. How low? anywhere from 275 to 270 area is my bet guess. Need to see continuation drop tomorrow.