OK, the market opened sharply lower as expected and I decided to take some profits. I noticed that when SPY opens lower with gap, it has a tendency to close that gap during the day. If I am correct, SPY will go up today and close around 116 level, where I will re-enter my put position. If it won’t go up and breaks 112 level (closing price) I will re-enter as well. Let’s see what will be happening circa 15 minutes prior to today’s session close.
Happy trading!
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