07/22 SPY Double Diagonal

Today I closed the PUT Spread for .18c, locked in profits from it. I'm not yet convinced that I want to re-open the PUT diagonal. I've been looking at the daily charts on the SPY and it is showing some signs of weakness on the bullish side. Let's see if it materializes in the next few days.

In the back-pocket, I'm looking at adding theta with maybe an iron butterfly if we get to 97.5. I'm looking at the Volatility cone and this is a huge up-side movement, the fact I'm down only 10% is positive. Of course, I'm only buying time right now, will have to add more theta to the trade sooner or later.

Position's History:
07/21 SPY Double Diagonal
07/20 SPY Double Diagonal
07/17 SPY Double Diagonal
07/16 SPY Double Diagonal Decision Making
07/16 SPY Double Diagonal
07/15 SPY Double Diagonal
07/14 SPY Double Diagonal
07/13 SPY Double Diagonal *New*


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