Tuesday, November 08, 2011

Buy SPY (sell puts)

Buy SPY via selling Dec 99 puts. I open a December SPY position, with a low risk, way out of the money sale of puts. Again, there are multiple support levels in between current prices and the strike price. It would take a lot to cut through all that support and there is Thanksgiving and Veterans Day coming up to slow trading and reduce volatility.

This is another order before the open that fills early in the trading day. I don't get near the best price of the day, but by the end of the day, I am in the green.

Long BRKB, SPY, TLT

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