2021-11-24

Back to the XLY

I started buying more puts today because I'm not sure what Friday will bring. I expect to buy more at better prices on Friday, but I don't like having no position right now.
My sense is today is probably a suckers rally or scaredy bears covering ahead of the holiday. From Sentiment Trader: Options traders return to speculative euphoria
S&P 500 isn't the right chart because that isn't where the specualtion is concentrated. Here's a look at what ARKK did the last time specualtion peaked.

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