WITH THE MARKET AT RECORD HIGHS
DON’T YOU THINK IT IS TIME TO BUY PUTS?
For those of you in Rio Linda, CA that is puts as in “I put you down” not puts like “you are a putz.”
3o years ago I used to but OEX options when I was known as “Mark the Arb” meaning I was the arbitrageur of the market.
I was never successful, never have been and never will. I have the loser gene unlike Donald Trump and most of the Jewish investors I know. In that vein I am a putz!
Or I am considered a “putz yerna” or small putz as my old friend Ira Walker would say.
But if I had any money left in the market I would be buying SPY puts at 3:59pm EDT today July 14, 2017.
I used to buy 200 at the money puts to ensure any move down in the market would be a windfall.
Sometimes I would buy an at the money straddle so no matter if the market went up or went down I made money, as long as it moved enough.
So watching PMSNBC on my large TV 📺 and listening to the ugly Russian Influence Scandal get a lot worse and Bloomberg on my smaller TV showing the market exploding to the upside I got an eerie feeling that a shoe 👠 will drop soon and take the market with it.
When I was about 10 years old Nikita Kruschev said at the United Nations, “…we will bury you!….”
Maybe he will.