Wednesday, May 1, 2013

New Put Trade in SPY

The May $157 put options on SPY have been purchased earlier this morning for $1.05. Stop loss price is set. Goal for put is $3.00. Reasons for the purchase are:

- Chart top forming

- ADP numbers were not good

- Commodity selling before a FOMC (Federal Reserve) meeting

- Overall market negative sentiment growing

- Month of May is upon us

***Disclaimer - This is just speculation and not to be considered a recommendation to buy or sell anything. *** 

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