Been holding SPY puts for a while now, not gonna lie it's been rough watching the index grind up. Today felt like a small win, meh overall but puts actually came through for once.
Not trying to predict a crash or anything dramatic, just been hedging and today the trade worked. Checked the flow on moomoo and the put activity looked pretty consistent with what I was seeing in my own position.
The bear thesis on SPY isn't exactly new territory. Everyone's been talking about stretched valuations forever and the market keeps climbing anyway. So is this a real turn or just noise? I keep trimming puts when they go green then adding back lower, kinda exhausting honestly.
Anyone still holding puts here or did most of you flip long after the last rip?