No Position is a Position

[logo, header, fpip] Hi Shoppers, Wow what a day in the markets. We finally had a real sell off. On one hand I am bummed I didn’t have any shorts that made a bunch of money but on the other hand, I also didn’t have any longs that lost a bunch of money. Remember no position is a position. Also remember when I say short and long I am referring to deltas which measure the change in your option price with a $1.00 move in the stock. Long deltas you want the stock to trade higher and short deltas you want the stock to go lower. So you can be long deltas owning calls and/or selling puts you don’t own. Selling calls you don’t own and/or buying puts gives you short deltas. Long and short can also refer to your option position. You can be long calls and short puts, which by the way is synthetically long the stock, we can go into that another day. Long means you own them and short means you sold them while not owning them. Next week I will get into the synthetics lesson. That’s always fun! [Continue here to see my pitchfork support and resistance levels in the S&P 500 (Ticker: SPX) now that we’ve had this move.]( Thank You for Reading … See You Next Tuesday, [ll sig, sig, signature, licia sig] All the Right Options. The Option Pit Team brings more than 150 years of experience to you every day. From the trading pits of Chicago to the world's largest banks to the halls of power in DC -- they've done it all. Now they’re collectively focused on one thing: making YOU a better, more profitable trader. Click the button below to schedule a call with our concierge Customer Care Team to find your best fit today. DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. The materials presented from Option Pit LLC are for your informational and educational purposes only. Neither Option Pit LLC nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational and educational purposes intended is at the user’s own risk. DISCLAIMER: OPTION PIT LLC IS NOT AN INVESTMENT ADVISOR OR REGISTERED BROKER. Option Pit LLC is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented materials. Specific trading ideas or strategies discussed in the presentations or materials are entirely illustrative and do not constitute the solicitation of a transaction (or transactions) or a recommendation to execute a particular transaction or implement a particular trading strategy. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions. Want to change how you receive these emails? You can [Update your preferences]( This email was sent by support@optionpit.com. 1-888-872-3301 [Option Pit]( | 190 S LaSalle Suite 3000 Chicago, IL 60603 | [Privacy Policy](