For now, I've reduced my short deltas by selling some June and July puts against the open short call positions in SPX and RUT. Likewise, I'm now long the ES, NQ, and TF (but will flatten on any sudden declines, and look to buy lower).
Tuesday, May 17, 2011
Bracing for a Bounce
As anticipated, market weakness has been seen early this week. Present support levels have the potential to provide some support into Friday's expiration. Be on guard however, for a rapid spike down to inflate option prices through increased volatility levels. I'll be an aggressive short term buyer (i.e., selling short term puts) if something like this manifests.
For now, I've reduced my short deltas by selling some June and July puts against the open short call positions in SPX and RUT. Likewise, I'm now long the ES, NQ, and TF (but will flatten on any sudden declines, and look to buy lower).
For now, I've reduced my short deltas by selling some June and July puts against the open short call positions in SPX and RUT. Likewise, I'm now long the ES, NQ, and TF (but will flatten on any sudden declines, and look to buy lower).
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