Going into today, I have a handful of shorts. However, opening up 200 points lower, I felt I needed more exposure to the long side. I know today does not look good, but you have to be hedged to remain in this market– anything can happen.
What I’ve been doing is adding longs on the big drops while adding shorts on strength. So far it is working out well.
Should we drop below the lows of the day (below 10,835) I will be adding to my shorts again.
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Gold and silver looking good here.
we are near the lows of the day, should we break I’m shorting more LM and buying puts on GS.
Lower! Added more puts to LM, bought puts on GS, and added new short BAC.
Too bad I got rid of those NOV calls and DUG puts yesterday.
Jumped back in with some EPD calls.
Freefall!!!
Potential support @ 10,782
Hey RC,
Remember how I sold the MER puts? Crazy. Since BAC fell so much that day, MER closed at basically the same level.
I’d like to buy more LM puts too. If you don’t mind, what exercise and expiry are the best value in your opinion? I have Jan 40s and thought I could do better.
Was thinking of getting 30s, just not sure which month.
Not sure. I own oct 35 puts. Whatever you do, wait for an some strength, you will pay too much premium right here.
Appreciate it RC
loving this GS short.
bye, bye GS.
New lows!!!
Just sold my GS puts with the stock hitting 103. that was some of the fastest money I’ve ever made.
Awesome call on GS Cajun! That move was fast and furious
Nice job. LM is doing well too. The Fly is the best.
LM like a brick
Fly owns.