Monday, July 13, 2015

July 31st SPY Call Exited

I sold the SPY July 31st 208 call option which I purchased for 2.50 on 7-8-15.  The stats suggested likely retest of lows and lower lows in coming weeks.  I limit exited the option for 3.25 today.  Very modest gain, but the stats were instructive and pointed to the positive skew for a short term move after the 3 month low signal.

At this point the question is whether and when to potentially act of the information in the most recent post suggesting lower lows likely coming.  Currently with prices in the gap area from 208-210, it seems like this is the first resistance test.   And with a gap up today, it may be likely that today's gap up and window is filled at a bare minimum.  There are actually a couple unfilled gap ups from last week right near the lows.

I have no further info to add at this point other than the stats from last post on the elevated total put/call ratio.


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