Originally Posted by Mr. Liu
Still holding full position fo spy160 puts and iwm94 puts from last week. It has been very, very painful.
Careful with buying puts on anything due to time decay...you have to be correct right away...with calls and puts its never up as much as you think it should when your are correct, and its always down more than you think it should be when you are incorrect.
I speak from experience unfortunately.
Only way to make big money is you have to be correct and it has to trade in your direction many days in a row.
Just chart TVIX over several yrs as an example...you would think there were some bear trends during this time frame but you would never know by looking at the chart.
I think the mkts due for short lived and smallish correction but the trend is up, hence I keep harping on 1750 SPX target...while I will close out longs if I sense brief pullback, I wont short a bull mkt in general...you can get killed by doing this...I will take some smallish short positions on individual stocks though like TSLA.