History was made and we #NailedIt
As Trump was gaining electoral votes, S&P Futures dropped to the maximum allowed overnight – 5% – and were cut short, bottoming out at 2028 (Roughly SPY 203.30). That level should be re-visited within the week, but my plan is concrete and detailed below.
Yesterday:
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My Inventory
- 75 NOV 18 SPY 212 P
- 30 NOV 18 SPY 210 P
- 100 NOV 18 SPY 207 P
- 50 NOV 18 SPY 205 P
- 30 AAPL 109 P
- 20 QQQ 114 P
- 20 FB 122 P
- 20 MCD 111 P
My Plan
At the open, SELL
- 30 AAPL 109 P
- 20 QQQ 114 P
- 20 FB 122 P
- 20 MCD 111 P
Evaluate, and prepare to SELL
- 100 NOV 18 SPY 207 P
- 50 NOV 18 SPY 205 P
Evaluate and prepare to SCALE OUT
- 75 NOV 18 SPY 212 P
- 30 NOV 18 SPY 210 P
Because we bought up the dip for over 60 points ($6 in SPY terms), I’d expect we revisit those overnight lows at some point during the week. This strategy allows for the ITM contracts to take profits as dips present themselves which should come accordingly as they did in previous post-election sessions.