Thursday, March 23, 2017

SPY Straddle Before Healthcare Vote..03.23.17

Here's a setup that may benefit from resolution of the impending healthcare vote.
A smarter dog would have purchased this a week ago hen IV was more muted but as the suspense and likely financial stakes have been so well demonstrated over the past 2 days this may be something to consider.  These options expire on the 29th so rapid time decay is a factor.
We would likely exercise sell to close as soon as the vote is announced.