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Trade Alert: Taking more profits on puts as volatility begets volatility

April 2, 2018 by Cody Willard

Wow, ugly day again today. Volatility begets volatility, as I’d mentioned in last week’s Livestream Chat Transcript. You guys scared? Or patient?

The Nasdaq has dropped 800 points, from 7600 to 6800 in the last couple weeks. Remember a few weeks ago when the markets tanked, put in a hard short-term bottom and then the Nasdaq bounced all the way to a new all-time high…a couple weeks ago?

The Nasdaq is now just 1% away from that panicky short-term bottom level.

The DJIA just fell right through that panicky short-term bottom in had put in.

The S&P 500 is right at that panicky short-term bottom from a few weeks ago.

You know I’ve been preaching caution, defense and have nibbled puts here and there starting just about a couple days before the markets put in their all-time high tops in and I’ve been adding to those puts on rallies, trimming them on market collapses.

So here we are again today, and yes, I’m going to trim about another 5-10% of my puts. I’m trimming some of the QQQ, DIA, SPY and IWM puts just about every time I have trimmed. I still have more than 60% of the puts I had at the time when I most recently bought more of these puts.

 

 

 

Related posts:

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Trade Alert - Locking in some profits on some shorts
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Filed Under: Trade Alert

Disclosure: At the time of publication, the firm in which Willard is a partner and/or Mr. Willard had positions in some of the stocks mentioned above although positions can change at any time and without notice.

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This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or cryptocurrency or token any other product or service by Cody Willard or any other third party. Furthermore, nothing in this is intended to provide tax, legal, or investment advice and nothing in this should be construed as a recommendation to buy, sell, or hold any investment or security or cryptocurrency or token or to engage in any investment strategy or transaction. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

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