Watch my latest video on SPY down below
We have been holding an SPY call credit spread for the last two weeks as the SPY is correcting in a 4th wave during that period. In that time we haven’t been required to do anything at all as price action has filled itself in according to models of Elliott Wave. Basically we’re sitting back collecting theta. We also moved on a new position today in IBM that should take advantage of the completion of the market’s current correction as we head to new low.