We are hanging in there... under the $416 resistance line that I drew a couple of weeks ago. I hope that we won't break through it as I am generally short at the moment.
SPY Daily Chart
Unfortunately for me, the option pricing indicates that there is a stronger chance of an upwards move. The price at the time I took the screenshot was $413.05 and we can see that the ATM (at the money = $413 strike) call pays $0.38 more than the put.
SPY Option Chain
How do I manage my positions in this situation?
I roll the put side up.
So what's my trade for today?
#NVDA (#Nvidia). It dropped 6% today so there is a 93% chance of profitability on a short put with Aug expiration.
NVDA Daily Chart
Trade Type: Short Put
Expiry: 19 Aug
IV Rank: 35.9
Cap Req: $1551
Annualised Prof at Expiry: 131%
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