$SPY #Options – day trading puts – 10/8

NOTE ON SECOND TRADE: Took profit of 50%, by habit and close to the end of the day, but sold way too soon as the market continued its selloff making the second put position worth 81% at the close.

These trades were based on this post:

#Options – Buying calls and puts

And this context:

#MarketTiming – okay, we are close to a bounce…

Note the final comment in the link immediately above: “Regardless, a bounce now will still be a bounce to sell again.”

All Twitter timestamps are Pacific Time.

FIRST TRADE:

SECOND TRADE:

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