Four winners, no losers for the October option cycle. My cautiousness from September translated into only a few small fish coming in for this month. Winners were short puts in GLD, TLT, two for SPY.
The glass half full side is that I didn't sell strangles like I did in August, or go short--either move would have translated into losses. Instead, I took smaller and fewer long positions.
Going forward I have more positions with some dry powder. Gold is due for a correction any time now, but I think it will be contained. Same for stocks, overbought, extended, but any correction has numerous support levels under it.
Bonds are oversold, but that doesn't mean bonds won't continue lower. I may sell bonds (or sell puts on TBT) on rallies as there are now resistance at multiple levels higher. On the TLT chart 102, 104, 106, 108 are all resistance levels, with TLT at 100.5.
Backratio (net long) AAPL
Short puts (long) on BRKB, GDX, GLD, SPY, TLT
No comments:
Post a Comment