Yes, The dow was minus 70 when I made these bets. It dropped another 90. So, therefore Friday should gap up about 90, then lose all volatility. I did buy a put spread on FAS, which will be in the money if the market goes down Friday. That's why the only scenario where I lose all the way around is the above.
I do play and like LEAPs. the last one I did was long SPY 130 calls about 2 years ago. Did some calendar call spreads. The ones I was short expired, and I sold the longs when SPY hit 140 on the way down. One of my few profitible trades. I was playing a 100 point pullback in AAPL. I quit 6 weeks too soon. But, it went up 50% from where I thought it would fall.
I do pick the movers well. If I could only do the proper timeframe and direction, I'd be rich!
MF4
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