Still stupid...

Yep...I am getting my ass handed to me again. As though it wasn't bad enough that my QQQQ puts are underwater by about 30% in 2 weeks, I am so stupid that I have decided to also buy puts this week on the S&P 500 (SPY Sept 102's averaged in around 2.10). I am so happy that the rest of my investments (the majority that I don't constantly trade) are all long and making money right now.

Glutton for Punishment...

After swearing off options and getting my ass handed to me on multiple occasions, I am back in the ring with them again. Am I really this stupid? Yep. The tide has to turn eventually, right?

With the big run-up in the NASDAQ since mid-July, in addition to the talking heads on CNBC ALL now saying we are going higher from here, I have decided to go short. I bought some puts on QQQQ over the past couple of days...The Oct 40's to be exact...I am averaged into them at about 2.07 per contract. I figure if we can get a pullback to 36 on QQQQ I should be able to make a nice, quick profit and put that money back in long. Plus, there is a gap around 36 in the chart on July 14/15 and I am a big believer of gap-filling on both the upside and downside. All I can do is lose money, right? I really am stupid...