$SPY …Yes, I’ve bought a lot of worthless SPY Puts over the years, to protect assets. Most under $55 (just always seemed to be something easily budgeted for.) Mine weren’t purchased hoping they’d make $, but in hopes they’ll exit worthless rather than the alternative, meaning I hope we don’t crash unexpectedly. On the other hand I’ve SOLD 10x more Puts to make money, because after all there’s a sucker born every day. All are a gamble with terrible odds, but sometimes peeps get lucky! When it happens I happily buy at the price, knowing I felt that was a reasonable price to buy when I sold them. There seems to be “times” when you just can’t loose by buying Calls in the morning & selling at close. Now days is not one of those periods, so I stay out. Hoping we have a positive January! GLTATraders: LT &
2
1
2
2 Likes