Opened (Small Account): SPY September 30th 409/414 SPV*
... for a .53 credit.
Comments: A late post. Added some in the morning, got weaker, so added some in the afternoon as well (at 12:22:26).
The basic strategy here is to emulate dollar cost averaging into the broad market with more room to be wrong, albeit with the twist being that you generally want to do it in higher implied volatility environments/on weakness. Generally, will look to take profit at 50% max.
* -- Short put vertical; also known as a "bull put spread," since it's a put spread that's neutral to bullish assumption.
Comments: A late post. Added some in the morning, got weaker, so added some in the afternoon as well (at 12:22:26).
The basic strategy here is to emulate dollar cost averaging into the broad market with more room to be wrong, albeit with the twist being that you generally want to do it in higher implied volatility environments/on weakness. Generally, will look to take profit at 50% max.
* -- Short put vertical; also known as a "bull put spread," since it's a put spread that's neutral to bullish assumption.
