Nassim Taleb (trader extraordinaire) has 10 rules. Rule number eight reads: “No matter how confident, always protect the downside.”
On that note I closed out my C 5 JUN Calls at .10, it took all day but they took late in the day.
I will continue to monitor this week after the FED statement, etc and may look at ITM calls again soon.
While I like the recent can't keep the DOW down market, many indicators are pointing to caution. The VIX is at an all time low below 18, this isn't just conent but complacent. The indices are all indicating overbought and volume has still been low.
I'm staying out of anything speculative for now and will keep looking for that next trade opportunity. One is Micron (MU) 10 April Calls, could be a technical push to 11+.
Happy Trading...
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