So yesterday we had a meltdown in almost every sector with SPY and QQQ dropping throughout the day. We did see a quick bounce during the end of the day. So the question is have we bottomed?
SPY
VIX
The VIX is still elevated after yesterday and it’s signaling we could see some wild swings before the election.
QQQ
Headlines
- Amy Coney Barrett sworn in as Supreme Court justice at White House
- Pfizer's late-stage coronavirus vaccine trial is near complete enrollment with 42,000 volunteers
- Reality bites for Putin's much-hyped Covid-19 vaccine, as concerns over efficacy and safety linger
My Trades
I closed out all positions and I’m sitting in cash with the election coming up. Those 9 SPY puts paid pretty nice yesterday. My account is till down for the year with a few horrible trades I made over the last few weeks.
I’m trying to not be bullish or bearish there’s so much risk around the election that I believe could see some wild swings. If I trade I’m going to have to be nimble in both directions. It might not be worth the stress to trade for the next few weeks.
Posted Using LeoFinance Beta
Yeah, it almost seems like you would have to sit at your computer and watch it all through the day just to make sure you timed it right. The year still isn't over yet, so hopefully you can finish in the black!
Yeah it's been super stressful and I ended up trading bought 24 puts for $335 but closed 12 right at close because I was at my breakeven. I'm waiting to see how some of these earnings play out tonight.