I bought SPY calls early this morning and the logic was clear, SPY did start to rise. But what about the options market? Liquidity was thin, the bid/ask spread was ridiculously wide, IV wasn't keeping up at all, and while SPY was rising, my calls were losing money. Seeing that something was wrong, I took advantage of the market going sideways to close the calls and buy puts, after which the SPY started to fall, which is exactly what I wanted and ended up with a profit of 2.3k!
0DET Hard to do today!