Two winners, one loser for October option cycle. The loser was a vertical call spread on GLD Oct 99/104. The winners were short puts on GLD and SPY.
Stock market is resilence. A simple time cycle analysis would bring in a top middle of next week. I was tempted to do a bearish vertical put spread on SPY Dec 98/103, but thought better of it.
I haven't done much during this current round of earnings. Options premiums are lower than previous earnings cycles. Even with lower premiums, the anecdotal view is that straddle buyers ahead of earnings are losers.
Still long GLD two positions for Nov
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