[Opening Position in UltraShort S&P500 ProShares (SDS)]
Dear Member:
The S&P500 is moving down and the UltraShort S&P500 ProShares (SDS) are moving in the opposite direction as designed. SDS has now bounced off a support and broken above a downtrend line that began in the latter part of January. I am placing an order to buy a 1/3 position at a limit of $64.55. I should also note that SDS has options and covered calls could be written against my position.
DISCLOSURE: At the time of publication, I do own shares of SDS and have written covered calls against those shares.
Sincerely,
Bill Kraft
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