Tuesday, May 12, 2009

No vertical

I considered shorting SPY today by doing a vertical put spread, selling the Jun 75 put, buying the Jun 85 put. The stock market selling squall again dissipates quickly. Quite a few folks missed the rally and want a pullback to get in. The sell in May folks are also wanting a sell off. Only rarely does the market give the majority what they want.

Long MCD, VMI both expiring this Friday

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