Iran was the excuse to take a break

2020年1月3日

The market has been very hot with lots of call positioning that was continuously rolled higher spurring a large rally. 325 (3250 SPX) has been a ceiling for some time and we've been unable to breach that level. The Iran news adds uncertainty which increases implied volatility and hedging. This makes puts more influential. Coupled with a "tired" market I think we may see a ~3-5% correction. 315 is our zero gamma level and where we would look to take profits. 325 is where we cover our short.

2020年1月8日

交易結束：達到停損點

After the amazing dip buying that occurred last night this idea is closing as we think avoidance of war will drop volatility enough to drive prices higher.