What a Day: September 14th, 2008
September 15, 2008 – 3:24 pmMy single greatest trading day ever. Wow what a day…even 16 minutes after the close my heart is still pumping. The Dow Jones closed 504 points and closed below 11000 and most importantly, the SP500 closed below the key 1200 support line. There was a FLURRY of activity once this happened and my Spyder index puts FLEW after the crack. Here are the moves I made today:
-Closed Bank of America (BAC) october 30 puts right after the opening bell
-Closed Spyder Index ETF (SPY) October 120 puts right after the bell
-Sold Dow Jones 30 Ultrashort (DXD) October 65 calls right after the bell
-Repurchased Spyder Index ETF (SPY) october 120 puts at 2:40pm and 2:50 pm. Decided not to sell the options off before the bell due to the SP500 closing below the 1200 support line. Easiest 500 dollars I have ever made. Also the stock price closed at 119.97 so the theta is dead.
This week is going to be absolutely brutal and very volatile. September options expire this week and the financial system is like a deer caught in the headlights. Batten down the hatches and brace for the worst as Goldman Sachs reports earnings tomorrow and it doesn’t look pretty. Take care and if anyone has questions, feel free to ask me.
here was my (SPY) action for the day
