Markets are rejoicing over a lower than expected jobs number, with the S&P 500 approaching all time highs again. VIX back to the 12 level, so options are cheap and complacency high.
Let’s take a counter trend position with some SPY puts.. makes probabilistic sense to me. Lose a little versus make a lot on a 50/50 coin flip.
TRADE IDEA
Buy to open SPY September 219 puts @ 2.20
These expire 9/16/16