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decided to buy puts for this trade as it had formed a rising wedge on the daily chart. bought @ 6:44 am watched as spy kept going up a little. then it formed a rising wedge by midday and crashed all the way to the end of the trading day. closed my position before market closed. the following day it had opened lower.
bought more spy puts for a drop. it ended up going a little higher before a huge drop. i sold at a loss thinking it wasnt going to drop anymore.
bought puts thinking it was going to go down fast. it ended up consolidating before it could drop lower. sold early at a break even point.
bought spy puts because i saw it was nearing the lower trend line of the rising wedge. held for about 50 min and it did end up going lower and touching lower line.
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