I'm fine. My hedge kept me safe. Things got too bearish and emotional around here so I decided to take some time off from everything. Im not upset that we touched 175 but that we did while SPY made ATHs. I was prepare for this, but not this & SPY 500.
The magnet, if 175 was the bottom, is going to be 196.5. If you get caught off guard by the bounce, rest assured that it will eventually go back to this level before Q1 P&D. Absent price hikes, 209 should bring big sell. With price hikes, 220 then 230 will be on the table but eventually 196.5 will pull it down.
Welcome back!
For those of us with short put LEAPS that might lose extrinsic @SP <$170, do you think we’d see below $170 after $209, or $180-$170 may be it?