possible suggestion 1: close all positions. why?
possible suggestion 2: wait for market down and then close it. why? what is the risk?
other suggestions ? and what is the reason behind the suggestion?
My current plan is:sell ES put against these 38 ES until all positions are assigned/covered:
1) sell cboe spx index put options below 2145 (to 2050) expired on every Mondays about 100 contracts(=200 es put positions because it is x100 sp500 index ).
2) sell emini ES put weekly options below 2150 (to 2050)expired on every Wednesdays (about 100 put positions)
3) sell emini ES put weekly options below 2150 (to 2050)expired on every Fridays (about 100 put positions)
I have collected $12000 from Wednesday to Friday from 50 to 38 short position. But I short ES at a much lower price too embarrass to say.
The reasons for above strategy are:
1) maximize margin in my account so can collect as much put premium
2) reduce risk of large short put positions in case Emini ES has sudden large drop so I will have large ES long position.
3) in my opinion, market fully(?) priced in the good Trump(large stimulus, less regulation), but bad Trump (whether all above will be realized, trade war, uncertain what Trump will do or say, Dec Fed raise rate, Dollar index surge, tech leaders FANG has been selling off) lots of unknown will keep sp500 range bound.
4) what could my strategy and above opinion about the market be wrong? Dow dos break up to all time high. what is the worst could happen? (which keep me waking up and write this post at 4am pt.)
Thank you for any of your thoughts! And good luck to your trade.
