bought blackswan insurance.

Quote from KINGOFSHORTS:

135 weekly puts for 8 cents a pop. Its been a great run but I want to make sure I don't get caught with my pants down next week.
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You don't think we can stretch this another week? I thought we might see some profit taking and a pullback at the end of this week but it didn't happen. Played hell with my 1400 short calls.
 
Quote from KINGOFSHORTS:

135 weekly puts for 8 cents a pop. Its been a great run but I want to make sure I don't get caught with my pants down next week.
More...

Smart move. I don't recall seeing such persistent contraction in historical volatility coupled with a big drop in implied in a long time! At this rate, IV is going to 10 by next week, hehe.
 
Quote from iloveoptions:

Smart move. I don't recall seeing such persistent contraction in historical volatility coupled with a big drop in implied in a long time! At this rate, IV is going to 10 by next week, hehe.
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It's time to start loading up on fire-and-forget volty exposure. Just sit back and be patient, confident in the fact that markets ALWAYS find a way to explode themselves.

It's just a matter of time...
 
Quote from KINGOFSHORTS:

135 weekly puts for 8 cents a pop. Its been a great run but I want to make sure I don't get caught with my pants down next week.
More...

when do they expire?
 
Quote from Random.Capital:

It's time to start loading up on fire-and-forget volty exposure. Just sit back and be patient, confident in the fact that markets ALWAYS find a way to explode themselves.

It's just a matter of time...
More...

I wholeheartedly agree. I couldn't believe my eyes when I saw a print of mid 14's in implieds today. In the April's today at 2 SPX strikes away from where we closed this afternoon. Even though I'm expecting a test of 1415 in the next week or so, a gradual increase of implied vola will occur regardless of what direction the market takes from this point.
 
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