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Summary
- Bought the SPY 18DEC20 364 put options on Nov 18 at $9.17.
- Sold the puts on Dec 4 at $3.49 for a loss of 61.94% on the trade.
- 6% portfolio allocation.
I bought the SPY puts on Nov 18 when the price dropped and broke the bullish uptrend line - the price then moved sideways for three days and then spiked higher on Nov 24 - I should have closed the position on Nov 24 but was stubborn and hung on for too long. The price bars were green (bullish) so I had no business trying to SHORT SPY.
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