Buy XLE via selling Aug 35 puts
XLE down to support around 45, puts are way out. It is a way to get a tiny bit more bullish exposure, without chasing the overall market rally. ThinkorSwim analyzer software says 2.2% chance of moving below 35 before August expiration.
I had a strong intuitive feeling to sell SPY puts or BA puts this morning, but I ignored it, and then the market popped up. Most of the time those intuitive feeling trades get me in trouble.
Long TM expiring this week
Long IWM, XLE for August
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