No action today

It looks as though I was initially right about the drop today, but then the market came back. My puts did not make enough to sell.
To make matters worse, in looking at the chart, it looks now as if tomorrow is going to be an up day as well. And if thats the case, suddenly there is an upward channel and the bus leaves the station.

Here is what I am going to do about it if that indeed is the case: I am simply going to wait until I see a top candle signal and then double down on a put and ride it back down to recoop.

As for RENT, we hold and worry not, thats a Jan contract. For the SPY puts that expire in a week, we worry that things are going the wrong way.

See you tomorrow,

Tradinginsider