Gotta love ZERO RISK in the SP500 = $$$

I went long SP500 at a price of 2075 yesterday and needless to say I am in the red much more than expected so quickly too.

Anyone else in the same predicament ? I have my stop at a seemingly unimaginable level of 1980.

I have been shorting in and out trying to repair some of the damage but I have a bad feeling about this trade.

I have halved the position since thinking about even reversing.

I have a bad feeling about this one, all major markets around the world sold off 2%+ today.
 
S2007S said:
SOLD SPXS after hours for a profit, had big losses on it but held out for this drop to get out, sold at $19.30, I know I keep saying the s$p is going to drop below 2000, it is, but I think the markets take a little rally before that happens, will buy back SPXS when the s&p is up another 2%+

STILL have TZA which I will also be selling on any gains tomorrow, I think the markets will open lower and rally into the close, thats my take, once the markets are up on a relief rally I will buy back TZA hand over fist under $10.00....
More...

Yeah I was positioning via options for a Sept swoon, so I basically had my long puts spread out against short puts, so only minimal gains on this drop...It's been awhile since we had a down OpEx, so this one took me by surprise...

Today was the first day in awhile where it just sat down on the lows, hardly any intervening rallies...that's a new one.
 
Wow man this thing got slayed today. The interesting question is: why? It's not like rates are going to be increased - everyone knows that isn't going to happen. Have the hordes finally come to the realization that our economy is actually not "strong as evar!!!" ? Has the realization that global demand and strength is decreasing hence nobody is rushing out to buy iphones and Netflix subscriptions become clear?
 
yep

SPXS now at $19.38, 6 cents higher from where I sold, the sell off will continue into tomorrow.
And I was sitting on lots of shares as well, Eh my TZA will make up for it...
 
Fundlord said:
I went long SP500 at a price of 2075 yesterday and needless to say I am in the red much more than expected so quickly too.

Anyone else in the same predicament ? I have my stop at a seemingly unimaginable level of 1980.
More...

Who the heck uses stop losses of 100 ES pts? C'mon man.
 
der_kommissar said:
Yeah I was positioning via options for a Sept swoon, so I basically had my long puts spread out against short puts, so only minimal gains on this drop...It's been awhile since we had a down OpEx, so this one took me by surprise...

Today was the first day in awhile where it just sat down on the lows, hardly any intervening rallies...that's a new one.
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I noticed how the market just sat at its lows of the day and continued to drop hour after hour, I fell for it to by adding a few longs, anyway SPXS at $19.38, sold $19.30 will keep everyone in the know how much money I lost by selling that gem early.....hoping for a triple digit rally tomorrow so I can get back in SPXS at a lower price and wait for the markets to really drop
 
i960 said:
Who the heck uses stop losses of 100 ES pts? C'mon man.
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Haha it was a small pure speculation trade.

I actually closed it just there at 2030 just on gut feel that there could even be a larger sell off tomorrow.

Might be time to put on a real sized short though, we haven't seen 2030 since February.
 
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