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Originally Posted by ASAP17
Stop trying to call the top by buying SPY puts, literally do anything else. Short individual names/sectors, sell calls, whatever but trying to time a correction has consistently been one of the worst trades out there.
Yes, the past is the future.
Are you saying vol is overpriced with VIX at 9.75? If so, lol @ you.
If you don't think vol is overpriced, how is buying SPY puts "one of the worst trades out there"? Conversely, doesn't' that make selling SPY puts with VIX at 9.75, "one of the best trades out there"?
And going back over the last couple of month, I think your statement is false, by the way. Weekly puts paid a 20 bagger in May, for example, and others have paid too, though less. I think if you blindly bought weekly puts you'd be ahead.
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Look at the action globally this morning, does that look bearish to you? You have multi year, decade breakouts happening all over the place.
So you're long?