Back on June 9, I pegged almost to the second the top in the Russell 2000 index. Since then, we’ve been weakening.
Readers may recall that I wouldn’t stop complaining about selling my QQQ puts too early. What I haven’t mentioned is that over the past few days, I’ve been building up the exact same options position (again, July 21st puts, priced at $142) against the IWM. I solemnly pledge not to completely bungle the exit on these.
As a reminder, I haven’t traded options in ages and am just a bear who buys puts. My small account is up about 40% since I started just a few weeks ago and hopefully this IWM trade will make up for my “left too much on the table” QQQ trade. Here’s my fingers-crossed anticipation: