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Strategies & Market Trends : Option Strategies

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To: sm1th who wrote (2541)	11/20/2023 8:10:57 PM
From: robert b furman	of 2591

Hi sm1th, Today I closed out one half of my January puts (only ones left). Two months out and I'm ok paying 3 to 7 cents to call it over. Trying to build cash and buy some Treasurys at 5.3% to 5.5 %. EW says we're at a top range of a wave 1 with a corrective wave due. I hate paying taxes in 2023, when I could defer them to 2024 with an expiration, but I'm PLAYING IT VERY CONSERVATIVE AS WAVE 5'S CAN TRUNCATE. I'm keeping it very cash high. May not be right, but if I can catch a dip on a C wave of a corrective wave, I'll be lucky and happy to have some free cash. Catching the bottom of a C wave and going into a three of five will be more than worth it. The volatility you mentioned is a sign of a 5 wearing out, lots of volatility, but few new highs. Five waves can truncate AND ALSO EXTEND. If they extend the drop is more severe later. Dangerous times that look good, but can collapse quickly. I'm holding my dividend payers and building cash (which also now pays 5% to 5.5 %) but at a high tax rate. Not sure, but playing it safe and taking some good profits. Thanks for posting your trades in any market! Bob

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