![]() Open multiple spreads with narrow Strike-Widths. Let ride any Bear Call Spreads already at max-loss (Long Strike in ITM) – I can’t lose more. At DEFCON 5, I will assume no restrictions to any new positions. Consumer Confidence is high, and there are love and peace throughout the world (snort). The latest economic data are all positive, and most Geopolitical and Sociopolitical news is boring. VIX is below 15, and the S&P 500 Put/Call Ratio is below 0.5. ![]() The 5 levels of the DEFCON Trade Readiness indicator: DEFCON At the end of the Market Sentiment Section (below), I will compile everything in that section into a single DEFCON level between 5-1 – with DEFCON-5 being the elusive “all clear” signal for opening new positions and DEFCON-1 signaling a complete market collapse. Going forward, I will display a DEFCON level for each journal entry for that week. ![]()
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