Live: Thursday, March 12, 2020

3:30 p.m. New York time

I’ve updated the analysis of SPY lot 5 with results.

3:20 p.m. New York time

I’ve exited ny short bear call options spread on SPY, called lot 5 — to distinguish from the many other SPY options positions I’m doing. Results shortly.

10:55 p.m. New York time

I’ve posted two analyses of short bear call spread options positions I entered this morning, SPY lot 6 and SPY lot 7.

10:15 a.m. New York time

The S&P 500 opened below its March 9 low, eliminating the risk that, using Elliott wave terminology, the reversal that ensured was the beginning of a Minor-wave 4 upside correction. I’m counting the continuing downward move as a continuation of the Minor wave 3 impulse wave.

I have entered new short bear call options spread positions on the exchange-traded fund SPY, which tracks the S&P 500, and have also re-entered SDS, an inverse ETF that goes up, double, when SPY goes down, and vice versa.

I’ll post analysis of the two options positions shortly.

As for the stocks, I entered SDS for a debit of $36.55 per share.

My trading was blocked for 15 minutes because the market hit a circuit breaker — again. So the options position in one account (SPY lot 6) was pre-circuit breaker, and in another account (lot 7) was post-circuit breaker. Same entry credit but different strike prices.

By Tim Bovee, Portland, Oregon, March 12, 2020

Disclaimer

Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

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Based on a work at www.timbovee.com.