well that was a nice call so far. what is your target to close position, i see its very long dated, OCT, so obviously not a 1 or 2 day trade?
UnknownUnicorn1043646
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@MonkeyMotoman, Im trying to hold to late Sept at least, probably will be adding
MonkeyMotoman
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@DarkPoolTrading, i have a few 1000 sept17 IWM puts strike 175, averaged in at about $0.75, ill join you in that risk, if this is even an intermediate top, these trades could pay off nicely.
Wilson5s
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hmm... why would you be initiating this position before big tech earnings this week?
Are you thinking that everything is already overheated and earnings will lead to a substantial tech pullback?
wolffarchitecture
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@Wilson5s,
Of course its going to drop, ( Tuesday end of day or Wednesday morning), its simply a game of chicken and who can hit the sell button sooner.
It snot often that the market gives you a precise date, so why not take advantage of it.
MonkeyMotoman
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wouldnt it be wiser to rather short the weakest of the indexes, russell 2000, vs the strongest, tech? just wondering aloud.
UnknownUnicorn1043646
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@MonkeyMotoman, this is much cheaper though R/R is better and bears should expect tech to fall anyway