Morning Trades…
1. Shorted the SPY, as indicated. IMO, the Vix is too low for the current environment we are in, as well as hitting support and oversold.
2. Protected my JPM holding via selling the Dec 40 calls against my common. (If I were to simply let the trade execute today it will effectively let me sell my JPM stake at 41, thanks to the premium of selling the option, versus buying at the common at 36. Basically I am saying I do not think JPM will go above 41 during this push upward.)
