The wild ride continues. The captain has asked that you keep your safety belt on when not moving about the cabin. The VIX finished the day above 50 so options are still pricier than they have been most of the last 5 years.
I’ve been moving puts and calls on SPY (one contract at a time) in my play money account. Made a profit of $176 on my SPY 87 Nov put, but the $11 commission each way for a $22 round trip really eats into these small time trades. The way I figure it though, I’m paying peanuts for the education. It is one thing to learn about options in the classroom (or stocks, bonds, derivatives, whatever); quite another when it’s real money on the line.
Bottom line: “Crazy Ivan” value at the close: $21,431.