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June 20, 2024

The S&P500 touched 5500 this morning and appeared as if it would hold. We opened a bull put spread in light of this optimism and strength but the markets reversed course. It dropped enough to force us to exit our trade for the first time this year. It was sound capital preservation to do this, even though at the end of the day, it held above our short strike. If one decided to hold and the markets continued lower, one could lose a lot more than the 14% hit we took today. We are still over 50% for the year and will not let this minor hiccup prevent us from earning more. Losses happen and as long as they're managed properly, we will continue to succeed with our members. Have a great weekend!