Trading Journal: August 14, 2023

Disclaimer

This is for informational purposes only.

Discussion

Trade 1: Sold 8/18 SPY $450 calls and bought $446 0DTE SPY puts with the profits.

Rationale 1: Breadth is decisively negative on the day despite green SPX and NDX, HY CDX remains bid, and XLU is not recovering here intra-day despite the respite in rates. VVIX is acting a bit bullish, red on the day and underperforming VIX, but I think rates continue to be a real problem here and I want to be super nimble.

Exhibits