Posted by donkeyface on 19th of Aug 2022 at 07:55 am
So, in some SPX (not SPY) puts (probably a bit over
leveraged, bought yesterday) went 30Sept4150,
I’m fairly confident this could be a gap and a gap test but not
fill and then go…. That massive monthly, weekly, daily
diagonal downtrend line acted as resistance perfectly,
and the daily has macd and stochastics and rsi all turned down
now with finally a bit of mini-divergence on the 3day stochastics.
Weekly is potentially still strong.
All this everyone knows if they listen nightly like me.
😂
Anyway, any recommendations on how to manage this
position?
Posted by DigiNomad on 19th of Aug 2022 at 10:45 am
"Anyway, any recommendations on how to manage this
position?"
I would use a put spread vs a put...especially if you're
worried you might be over leveraged.
Adding in the second leg of a spread after the initial move goes
in your favor is a great way to lock in profits and/or further
lower risk (depending on how far it went in your favor)
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So, in some SPX (not
SPX 60
Posted by donkeyface on 19th of Aug 2022 at 07:55 am
So, in some SPX (not SPY) puts (probably a bit over leveraged, bought yesterday) went 30Sept4150,
I’m fairly confident this could be a gap and a gap test but not fill and then go…. That massive monthly, weekly, daily diagonal downtrend line acted as resistance perfectly,
and the daily has macd and stochastics and rsi all turned down now with finally a bit of mini-divergence on the 3day stochastics. Weekly is potentially still strong.
All this everyone knows if they listen nightly like me.
😂
Anyway, any recommendations on how to manage this position?
"Anyway, any recommendations on how
Posted by DigiNomad on 19th of Aug 2022 at 10:45 am
"Anyway, any recommendations on how to manage this position?"
I would use a put spread vs a put...especially if you're worried you might be over leveraged.
Adding in the second leg of a spread after the initial move goes in your favor is a great way to lock in profits and/or further lower risk (depending on how far it went in your favor)