900+ Pts Down Yesterday...What Should You Do?

900+ Pts Down Yesterday…What Should You Do?

Posted On October 29, 2020 3:00 pm
By: Steve Smith

There was a lot of panic in retail investors yesterday.

A lot of new traders and less experienced traders scared to death of the correction in the markets.

My email box blew up with subscribers to Options360 asking what they should do.

My answer?

That’s right, in the middle of the bloodbath yesterday we jumped into an iron condor position and got paid $560 to put it on.

After the election Tuesday, I expect implied volatility to start going down, which will benefit us as we take advantage of time decay.

If that doesn’t make any sense to you, don’t worry – I explain everything in detail to my Options360 subscribers.

Have You Taken Advantage of Your $19 Trial Subscription?

The truth of the matter is this kind of market – with lots of price movement- benefits traders like you and me.

It helps us find positions to trade for significant profits.

Markets that are just moving sideways are terrible – markets that are moving up or down give us the chance to make lots of profitable trades…

As long as you know how to trade them.

That’s what Options360 is all about. Not only giving you trade recommendations to help you make money in the markets but also showing you how you can find trades yourself.

Ideally, you wouldn’t need me to find these trades and put them on.

Why do I say that?

Because my best, most loyal subscribers are the traders who can (and do) trade on their own.

They keep their membership because they see the value of my recommendations, the bi-weekly education, and the ability to ask my questions via email.

I want you to be there, too.

You can start by taking advantage of the $19 trial subscription to Options360.

It’ll be the best $19 you’ve ever invested in your trading education.

To Your Success,

Steve

Tagged with: options360

About author

Steve Smith

Steve Smith have been involved in all facets of the investment industry in a variety of roles ranging from speculator, educator, manager and advisor. This has taken him from the trading floors of Chicago to hedge funds on Wall Street to the world online. From 1987 to 1996, he served as a market maker at the Chicago Board of Options Exchange (CBOE) and Chicago Board of Trade (CBOT). From 1997 to 2007, he was a Senior Columnist and Managing Editor for TheStreet.com, handling their Option Alert and Short Report newsletters. The Option Alert was awarded the MIN “best business newsletter” in 2006. From 2009 to 2013, Smith was a Senior Columnist and Managing Editor for Minyanville’s OptionSmith newsletter, as well as a Risk Manager Consultant for New Vernon Capital LLC. Smith acted as an advisor to build models and option strategies to reduce portfolio exposure and enhance returns for the four main funds. Since 2015, he has worked for Adam Mesh Trading Group. There, he has managed Options360 and Earning 360, been co-leader of Option Academy, and contributed to The Option Specialist website.