Market Update for Friday, June 24th, 2016

by Jeff on June 24, 2016

In an effort to take their country back, the United Kingdom’s voters have sent a stinging message to the NWO that they want to take back control of their country! I believe it took a lot of courage and I am very proud of them. Congratulations!

6-24-2016 4-26-08 PM

It took me a while to get back to posting again after I blew my right knee out, but here I am. No, I haven’t thrown in the towel yet.

Since my last update, I Condorized my JUL RUT Bear call with a Bull Put and my short strikes are now at 1220 and 1045. Today’s closing price is just about smack in the middle at 1127 and a delta of 3.41, just about as close to delta neutral as you can get.

6-24-2016 4-27-31 PM

Last Friday, betting that the result of the Brexit vote would be Leave and a ‘shock’ to the markets, I bought a JAN17 Put on SPY at 205. I still think there is more room to the downside so I’ll hang on for now.

The same goes for my GLD long Call – more room for gold to move up.

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Next week should be interesting.

Thanks and Happy Trading



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