Vocex,
>>>>>>>>> I see your analysis points to Sept 4 +/- for a turn down again. Will you be looking to buy Sept puts on any short term move toward the 8095 containment area, or what do you think about Oct/Nov OEX puts, even though premiums are always higher than near term. <<<<<
I already initiated, yesterday, a small PUT SPREAD (OEX SEPT 485/470).
Since the market was so volitile I wanted to have some puts, but to reduce the risk I went with a PUT SPREAD, since the market could still go up. I still feel that position is safe since I am expecting, at least a retest of 8400 within 10-12 days, even if the market does not break down.
Per my technicals, the timing for the next decline should be from SEPT 4-SEPT 16(+/- 1-2 days) with the stronger portion of the decline to occur near SEPT 16.
To help offset the cost of OCT PUTs, a PUT SPREAD would help, but they are a bit tricky to work with.
Seeya |
