Yesterday my index option trading system registered a sell signal for the recent call option purchase.
The first sell signal does not tend to be right at a top of a leg up, but may often be right near the end of a directional portion of a move. So I would suggest exiting at least part of a position at this signal.
The SPY option I purchased is currently up around 80%. I have a market order to exit at the open today.
The hourly VIX chart is displaying what I consider a short term extreme configuration in the bollinger bands, and so a brief pullback here would be reasonable if not expected.
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