$SPY SPX S&P 500 Chart, Short Trade

I sold SPY calls yesterday and I’m now short (: ) via Dec 2014 puts.
This is based on the overbought levels and a few other indicators, like a very high number of stocks above their 50MA and a very low VIX.

It’s not a fundamental case and I’ve got no opinion as to what the economy is or isn’t doing. I just think at this point it’s a higher probability trade than being long.

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