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Hi Guys,
Although I play oex options often, and spx options occasionally, they
are options against the cash index and not the futures. I don't trade
futures. With less leverage, less risk, and less excitement I do trade
SPY's. They are the s&p for us stock traders I trade them short term
and sometimes often hold them overnight. At least I don't have to worry
about premium decay.
Today at 11:44 am I felt we had dropped to just under a point of
overhead resistance based on the daily charts and based on what I saw on
the ticker. At that time I sold boko SPY's @ 97 1/8 to close out a long
position. I would appreciate hearing from you futures guys as to
whether you think my trade was technically justified at that time and if
you think entering a short position was justified as well (which I did
not do).
Best wishes,
James
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