Last Week my AXP put was bought back with proft and i re-opened a new put @ 60 with Jan18 expiration. If this quality stock ever comes to there i am willing to buy and will write more puts. Institutional Investors bought @ 50 level and the stock is in an uptrend.
My long portfolio still ok but my hedges are under water. This week the SPY is closing with a weekly green bar above the 14 weeks lasting trading range of 231-240. Generally this is a bullish signal. 5 of the last 6 Trading Days the OEX PCR was above 1 and there are more puts than calls in the market. This is generally the instrument of the “smart money” and it can be a little sign that these guys are hedging their portfolios.
We small traders never know what will happen next, the only thing to follow is our trading plan and time will tell the complete story.