#takingprofits #spyladder #shortputs – As I posted last Friday, if SPY were to close today below its 50-Wk MA (438.95), I planned to exit my open puts and wait on the sidelines until a new uptrend takes shape. I’m skeptical that SPY will get there by the close and stay there, so I went ahead and took advantage of the rally to close all open puts:
BTC SPY March 4 2022 409 Put @ 1.20 (sold for 2.20)
BTC SPY March 4 2022 408 Put @ 0.95 (sold for 2.20)
If SPY does manage to close today above the MA, I’ll assume we’re still in an uptrend and resell on any weakness next week.