S&P500 Jabs At Resistance... Tiring Out?
I'm adding to my initial 2% short exposure with another 2% short exposure in the form of options. I'm getting another 15 contracts of SPY December $100 puts. Despite the upmove yesterday, the market didn't follow through. Even the Nasdaq is now down after being up about 1% earlier. Investopedia has a 20 minute delay on publishing executed trades and I've put in a limit order to be safe. So right now the model portfolio should be about 50% long in stocks with a 4% short exposure in options. Once again, shorting is dangerous but I'll take the chance right here, if not to hedge my longs. Let's see how things shake out...
UPDATE: Market just continued lower. Brought down long exposure to 20%, including selling some positions just bought today like AU, selling other half of TAM and remaining position of APWR. Holding LVS and ILMN. Limit order for another 15 contracts of SPY puts was indeed filled.
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