Submitted by dustytrashfence t3_126syu0 in wallstreetbets
I’ve been wanting to get short the SPY for a while, but wanted to wait until some of this quarter end window dressing / painting wrapped up. Seeing bears like Burry apologizing on twitter today only increases my thesis. I think April-June will be messy this year. Giving myself time through September in case I am early / wrong.
Purchased 127 of these in my main account at $4.98 avg
Purchased 10 in my IRA at $5.01
In total, 137 SPY 340 September puts or roughly a $68,500 bet.
YOLO
3/31 Edit: Sorry for the anti-climatic ending. I took the loss on this today for -8% loss. The bid on equities has been relentless and I don't like letting my losers get too out of hand. If they reverse it on me and my thesis was right, so be it. For the time being it appears the pain trade is higher.
