On Friday evening before market close, I bought about $30,000 in SPY puts expiring this week and the following week. Then the strikes in Iran took place Saturday morning. Anticipating a sharp drop-off/sell-off Monday morning at open with some panick-selling occuring. Entry when SPY was around 683
The Ayatollah was confirmed dead, not to mention an untold number of Iranian government officials and civilians, as well as at least three US Servicemembers now. Never would have imagined the conflict to become what it is at this point.
Even if this position does pan out to be good, the news behind it certainly won't. Expect significant market volatility this coming week.
