Weekly Newsletter   Challenge account   Weekly Newsletter   

Markets losing it again, good or bad?

Account Net-Liq: $5,339.34
SPX value: 3,215.63
Shiller PE: 29.97

Markets continued down again today, as of this entry, S&P was down 0.84%. Normally, I would be OK with it if I didn’t have the SPX trade trying to get rid of it. I had to roll the puts down this time. But I decided to keep the calls up. I will eventually roll the calls down later. I still have 7 days to expiration and I am afraid that I would roll the calls down and the market reverses and rallies hard back up and I will be in trouble with the calls again. So I deiced to wait for now and keep rolling the puts lower only. I hope, this will work for me.

IWM trade is in good shape, the covered call will expire today and on Monday I will be able to sell a new CC.

The market closed down for the second consecutive day. It still may mean nothing though but it may turn into an ugly selloff next week if bulls give up. I hope, they won’t. The last few hours of trading was somewhat promising that there were buyers to be found out there. Nothing spectacular, but promising.

SPX 2020

SPX 2020

Leave a Reply

Your email address will not be published. Required fields are marked *