The market continues to go sideways making hedging challenging. However, it seems like at some time this year there should be a pull back in the market. It is very, very rare for a whole year to go by without a good pull-back. CCI plans to continue to keep some hedges in place by being short options.
Specifically this week
- On Monday , CCI sold the May $136-$130 put spread on SPY on Monday in case "sell in May and go away" gains traction.
- Today, on the large move in the "Nasd-apple" today, CCI sold the $67-$65 put spread on QQQ thinking the good Apple news will fade into the background in the short-term.