ES Has Topped

[maxinger]

It's definitely a grind for shorts. But it only takes a 1% move to take out 3 weeks of gains. I feel like these tight ranges are just setting up for an explosion in one direction or another. I have long December 2550 puts in my time capsule. Vol is just anemic. Theta/vega are chipping away at the position right now. If there's a 1%+ down move I'll sell ATM puts to create a put spread. If not, I'm ok with taking a hit on the premium.

Call it a hedge for my buy-and-hold-forever portfolio.

interesting strategy.

Did you consider selling call option rather than buying put option?

 

[atrp2biz]

Not at these IV levels.

 

[i960]

 

[theapprentice]

it's crashed!

 

[comagnum]

Yawn, really now - are you guys that starved for volatility?

Real-time contract $ changes from session close yesterday

 

[theapprentice]

Has Bin Laden come back to life or something?

 

[Pekelo]

Has Bin Laden come back to life or something?

I was wondering the same. What happened? futures are down 12 pts.

 

[maxinger]

I was wondering the same. What happened? futures are down 12 pts.

I suspect it started with Hang Seng Index

 

[vanzandt]

Buy the dip!

 

[bone]

Buy the dip!

I have no pretext of the future, but buying dips in this market has certainly worked out swimmingly for the past several years.