I'm on vacation this week so I won't be posting a lot, but I did want to update a move I made Monday afternoon.
I set up a September 193/192 SPY bull put spread collecting a $380 credit on 10 contracts. Even though there may be a little more downside to go, I believe we'll stabilize and make new highs. Buy the dip has been working since 2009, so I'm going to keep playing it until it doesn't work anymore.
Anyway, I probably won't be doing much else this week. I've got a mess of trouble staring me in the face next week. Just take a look at these positions - YIKES! I'll be rolling out AFL, HSY, and KO for sure, maybe even TWTR and QQQ. Next week is going to be tricky, and I can guarantee you I'm going to learn some valuable and potentially expensive lessons.