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u/MetalCharacter8431 1 day ago Question

Thoughts on SPY Put?

I originally bought an SPY OTM put on Friday waiting for pullback from the earnings week. That was a dumb decision looking back due to the bullish momentum and I learned to not be forced to buy a contract just because it's all you can afford, not to mention the climb continued that day. Currently SPY has been holding fairly flat so I bought another position that was closer to the money. What do you guys think of the setup? I'm currently concerned about what NVIDIAs earnings might do but I'm hoping the CPI report tomorrow tips the scale in my favor. Any recommendations on what to look for or when to sell?
10 comments held Reddit says 0 on reddit ↗
  1. u/MetalCharacter8431 OP 1 1 day ago
    Just an added note, my loss today is due to theta, not necessarily market movement
  2. u/No-Contribution1070 1 1 day ago
    Your loss today is because you have no idea what you are doing.
  3. u/ExplanationNormal339 1 1 day ago
    Following $SPY for a while now. Earnings tends to swing it so I check the pattern first. Educational read for.
  4. u/MetalCharacter8431 OP 1 1 day ago
    I appreciate this, thank you
  5. u/LostintheCrown 1 1 day ago
    This is a bot
  6. u/ElectronicSea7975 1 1 day ago
    I'm positioned on the other side of this figuring that CPI + the $500b Nvidia / PE deal announced yesterday would be enough fuel to support another moonshot. But, if the CPI doesn't go well for me it probably helps you out dramatically. We'll find out tomorrow.
  7. u/MetalCharacter8431 OP 1 1 day ago
    Flip a coin, one of us will be green friend, unless God forbid it stays flat
  8. u/BlackTroy300 1 1 day ago
    This will go higher in profit
  9. u/Neither-Job-6300 1 1 day ago
  10. u/[deleted] 1 22 hours ago

    [removed] — already gone when the archive first saw it