股市下行自我保護的辦法

Downward Protection Option Strategy


節選：

We may drop all the way back to 800 (head and shoulders fans) and that will give us a HUGE buying opportunity, which is why it's critical to stay MAINLY in cash and scale into long-term positions, taking advantage of the fear premium we are able to sell the the CNBC crowd. If you are worried about positions you currently have and you didn't partake in our "5 Plays that Make 500% if the Market Falls" on April 28th (which was a Members Only post at the time), then you can still set up protection for a fall all the way to 800 on the S&P like the following:

• Buy SDS Sept $29 calls for $8.25
  
• Sell SDS Sept $36 calls for $5.25 (net $3)
  
• Sell SDS Sept $30 puts for $2 (net $1)
  

That puts you in the $7 spread for a net cash outlay of $1 ($10 in margin, which can be cut to $5 by spending .35 on the $25 puts) and SDS (an ultra-short on the S&P) is CURRENTLY at $35.77 so your $1 outlay on the spread is CURRENTLY $6.77 in the money. This isn't even a play on the S&P going down, it's a play that pays you if it doesn't go up! This is how we are able to buy with confidence at PSW. Commit $5,000 to this position and you get $35,000 back if the market doesn't go up.


Then we can buy 500 shares of BA at $62.40 and sell the Nov $62.50 calls for $8 and the Nov $55 puts for $5 and that puts us in BA for net $49.40 ($24,750) and, if BA ends up below $55 in Nov, another 500 shares will be put to us at $55 for an average entry of $52.25 ($55,250). If BA is below $55, it's a good bet the S&P will be below where it is now and you will be $30,000 richer so you are covered owning BA all the way to $22.25 - THAT'S what I mean when I say we're buying stocks!

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Freaked Out Friday - Has CNBC Gone Too Far?