We exited our SPY 134 Put Options at the close Friday for a 20% return in two days.
Not a bad return, but less than I thought would come our way.
The main reason I have decided to take profits on the puts, in what may seem like an early
exit is that the odds of a snap back rally have gotten very high and I would much rather sell out of the position and buy it back cheaper then watch it go back to breakeven.
Presently I do not see a trade with call options to play the snap back rally as the risk level remains too high to purchase call options. What I will be looking to do is to get back into the April 134 SPY call options on any strength we may see over the next 1-3 days.
Therefore, the 3 Day Cycle Option Account is Flat.