Disclaimer
This is for informational purposes only.
Discussion
Trade: 1/2 position in SPY October 20 $420 puts, and SPY September 29 $440 puts.
Rationale: HY CDX bottoming out with defensive spiking and VVIX down. Extremely toppy, but left room to add.
Following the strategy outlined last night with SPX within spitting distance of 4600. Just want to have some put exposure on in case things start to break ahead of FOMC in the window of weakness.