Spirit of '87, '01, or '08?
Whether it's September, October or November - fall seems to be the cruelest season of all for equity market bulls. This is the scenario that I have been positioning myself for all year -- limited risk with the potential for unlimited gain if the market collapses.
My "one winged" Nov SDS condor (outlined below) and my short AMZN 130 call/long AMZN 100 put credit spread ($115 gross, $109 net) are both looking very good.
I want to hedge the AMZN spread and will do so when time decay and/or a further fall in price for the underlying gets the premium for the 135 call down below $50 or so.
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