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Probably over a 95 percent chance the S&P hits 3000 without dipping below 2440 ever again. That's why it is important to have money in the market working for you.
In the meantime I love playing with SPXU options, which pay 3x the inverse of the S&P. I make as much when the S&P has a down day than when it has a great month. It's a horrible ETF to hold long term but the 3-4 week options are quite satisfying.
In the meantime I love playing with SPXU options, which pay 3x the inverse of the S&P. I make as much when the S&P has a down day than when it has a great month. It's a horrible ETF to hold long term but the 3-4 week options are quite satisfying.
What happens when you hold it and the market goes up? LOL..we never hear about that stuff. Everybody wins here on the forum!
That could very well happen. I have 7 lots for the May 18th, $11 calls. I started buying at 80 cents and bought more all the way down to 30 cents (trying to catch a falling knife), which averages out to 52 cents. If it dips down to 20 cents I'll buy one more lot, then thats it.
Sounds crazy but one day in the next month I'll wake up to see the S&P has taken a dip, SPXU will be near $11, and I'll make a couple grand.
That could very well happen. I have 7 lots for the May 18th, $11 calls. I started buying at 80 cents and bought more all the way down to 30 cents (trying to catch a falling knife), which averages out to 52 cents. If it dips down to 20 cents I'll buy one more lot, then thats it.
Sounds crazy but one day in the next month I'll wake up to see the S&P has taken a dip, SPXU will be near $11, and I'll make a couple grand.
Exactly why I'm doing it. Yearly returns of 20% do nothing for me. I pass on items that I could resell for more than 20% profit on a near daily basis. Only gamblers deserve the payoffs that options provide.
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