Diary | 2/14/2020 | SPX Spread
Justification: This comes alongside an /ES spread I sold a few minutes earlier in another account. Intention was to sell into pre-market close weakness.
- Directional Play: Yes. Adding long delta into a strong close prior to this extended weekend.
- Technical: Below 20 and 50 MA.
- Fundamental: Earnings continue to improve; Fed really supportive; jobs data positive; ISM manufacturing higher; market participants equally split between bullish and bearish ; virus data (if correct) shows the growth in virus cases slowing; trade going in a positive direction; world economy growth has persisted; and so on. If market sells-off or volatility picks up, I'll look to manage (e.g., roll, reduce delta's, and so on).
If/Then:
- Take profit? 50% of credit received
- Where will you hedge? $3110
Strategy Details:
- Short and Long leg: $3100, $3050
- Short Leg Delta: 0.09
- Duration: March 31
Disclaimer: This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve (myself especially), so if you see something wrong, speak up.
- Directional Play: Yes. Adding long delta into a strong close prior to this extended weekend.
- Technical: Below 20 and 50 MA.
- Fundamental: Earnings continue to improve; Fed really supportive; jobs data positive; ISM manufacturing higher; market participants equally split between bullish and bearish ; virus data (if correct) shows the growth in virus cases slowing; trade going in a positive direction; world economy growth has persisted; and so on. If market sells-off or volatility picks up, I'll look to manage (e.g., roll, reduce delta's, and so on).
If/Then:
- Take profit? 50% of credit received
- Where will you hedge? $3110
Strategy Details:
- Short and Long leg: $3100, $3050
- Short Leg Delta: 0.09
- Duration: March 31
Disclaimer: This is a page where I look to share knowledge and keep track of trades. If questions, concerns, or suggestions, feel free to comment. I think everyone can improve (myself especially), so if you see something wrong, speak up.
This page is where we look to share knowledge and keep track of trades. Feel free to comment if you have questions, concerns, or suggestions. Everyone can improve, so speak up if you see something wrong!
This page is where we look to share knowledge and keep track of trades. Feel free to comment if you have questions, concerns, or suggestions. Everyone can improve, so speak up if you see something wrong!
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