Partial Profits

I took partial profits on last weeks adds by writing naked weekly SPY Calls.

2 comments:

Dirigi said...

Tsachy, what's your take on the ridiculous amount of call buying on the ISE ?

Tsachy Mishal said...

Normally, one day of call buying is not a bad thing. It often marks a turn in sentiment at the beginning of a good run. It usually takes a long string of days with excess call buying to be a negative.

However, in the past few months one day of call buying has been enough to derail the market. I would be more concerned if the excess bullishness started showing up elsewhere.