Close of last week: $5,263
Somewhat different as the SPY options market closes 15 minutes after the main market and thus the prices change a bit as bid ask spreads widen.
Day 1: Beauty of downside protection:
S&P fell 0.8% and went outside my protection range of 137 to 141. However, given the additional downside protection I had on my spread trade (due to higher weight and higher volatility), I lost only around $150, which I hope to recoup in the coming days. Any movement to the north will take me into positive territory very quickly. Ended the day at $5,119. I expect a positive day tomorrow.
Somewhat different as the SPY options market closes 15 minutes after the main market and thus the prices change a bit as bid ask spreads widen.
Day 1: Beauty of downside protection:
S&P fell 0.8% and went outside my protection range of 137 to 141. However, given the additional downside protection I had on my spread trade (due to higher weight and higher volatility), I lost only around $150, which I hope to recoup in the coming days. Any movement to the north will take me into positive territory very quickly. Ended the day at $5,119. I expect a positive day tomorrow.
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