DecWk1 - SPY Market Summary
Last night the SPY looks like it was on a roll. Need I say more? I was looking for an opportunity last night, perhaps one day too late. I should have entered the market on Thursday with a Put Spread. It was already on a downtrend for about 4 days already since last Friday.
Thursday would have been a good day for a Put Spread, never mind if there wasn't any good spreads to sell, a 4 cent premium would have been good as well. Oh well, these days it seems that it's not as easy as I would have thought it to be. The spreads available are a little tight, and the safety buffers don't seem to be there anymore.
So in short, I didn't take a trade last night. I sat out and basically watched the market expire worthless for what would have been a nice 9 cent premium had I had taken a risk and entered into the market. But that risk might not have been worth it because the SPY finally closed at 180.94 up 2 USD regaining all the losses that occurred over the past week.
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