What Did You Buy Today?

[fenders53]

(05-27-2020, 09:44 AM)Otter Wrote:

(05-27-2020, 09:34 AM)fenders53 Wrote: Closed all the option legs of my DE short for a 55% gain within 4 trading hours.  The underlying stock never went my way more than about a dollar and it was brief, now it is running again.  Implied volatility swings do crazy things.  The trade was engineered to limit max loss, but still, I got lucky.  

Very little to buy again today, but I'll keep looking.  If will be interesting to see if SPY can close above 300.

While the run the past few days has been fun, my gut feeling is that we are in a range-bound, sideways market with SPY 300 forming the upper bound of the range (my best guess is 270ish on the lower bound). 

I'm holding an additional chunk of cash to deploy, but kinda just watching and thinking about it at the moment.

I am definitely invested but I have a load of cash.  If I would stop being cheap and early close out all the JUN puts I sold that are very profitable, I'd have even more cash with no place to go.  I do think the market will be range bound and choppy, but I thought that at SPY 270.  My boring stuff is doing fine and close enough to fair valued so I'll just fight the temptation to sell anything.

Looks like a subtle rotation out of tech this week, while industrials run for no reason with a bad quarter in progress. My guess is big money knows they better trim some tech profits.