Big drop in past 2 days nearly reversed the rally from Monday to Thursday morning.
As you may know from our post yesterday, we bought SPY puts when ES was trading around 2065 — we bought those at $.79. Today, they close well over $3 — and we cashed out our last piece at $3.11 (we cashed out the first half at $1.81 yesterday).
Today we also realized our 207.5/209 call spread since we had gains of $1,000 and the max profit on that trade was $1,200 — so we were close to 80-90% of potential profit. Given the action after the close (big drop) – we could’ve held on, but not worth the risk with profits on the table.
We posted 2 videos: