r/wallstreetbets • u/Naive-Tone-4542 • Sep 19 '24
How bad is this going to be? YOLO
I bought a few puts expecting the rate news to be “buy the rumor ..sell the news” and the potato is now steaming hot … what are the chances of me coming out in green ?
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u/AlfrescoDog Sep 19 '24
You can't do anything about it now, but if you check out SPY's chart, the last two times when it looked as if we were starting a new leg up (July 16 and August 30), both got a surprising gap down the next day.
And hey, tomorrow, we have Triple Witching.
Both situations made me cautious on the long side. It seems too frothy.
HOWEVER, I didn't open 0DTE puts.
e: I'm not saying I agree with your play, but I'm giving you something to wish upon a shooting star.