On August 1st TheOptionPlayer.com executed an S&P 500 Index ETF (NYSE: SPY) August 31st expiration 30-day) option strategy. Today we decided to close out this trade early. Login in as a Premium Subscriber to view data/images
As confirmed in the chart below, the S&P 500 Index ETF is not following through on signals indicating the price is due for a pullback. The SPY ETF is displaying relative strength compared to the other major equity ETFs. The option contracts expire in a few weeks and we eliminated the risk of a large loss by exiting the position early before the SPY ETF returned to all-time highs.
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