Despite waiting for what seems forever for all hell to break loose, patience remains paramount for what is building up as the trade of the year, or at least challenging the Sep 15th TSLA calls in both Premium (Best levels +876.54%) and PRO (Best Level +1,060.69%) accounts for that title. There is plenty of time in the Sep 15 monthly expiration to achieve those gains in index puts and/or VIX calls, but what has been lacking is the actual market meltdown to pull off those gains. First things first, the trigger into the market meltdown trade of the year: SPY - Key breakdown level to initiate new put positions = < 450.00 A SPY close < $450.00 (any day) generates the following trade: Buy to Open: SPY Sep 15th $450P (currently: 4.70-4.71) SPY Target: Below 400 before Sep 15th expiration = SPY $450P > 50.00 Stop: Trailing 50% We are looking for a 5X to 10X win if this trade is triggered. VIX - Buy Pending Although PRO accounts have specific entry instructions, for the Premium Account traders wait for a confirmation Buy Signal. This will likely make the trade a day late in getting in, but save the angst of another false alarm. If that sort of thing is not a worry, read between the lines, i.e., add VIX calls when you open the SPY put trade, Otherwise, await further instructions.
