I sold the SPY calls as the time decay is a bigger issue and the gain was decent.
Over a 40% gain in a couple of days, I don't thin I'll get a gain like that again with time decay on July calls
Momentum in price is running out, there's no more short squeeze to drive it and the market is extended from support, this is the negative divergence I believe is from arbitrage traders.
The SPY has moved too far from the currency support. This doesn't change my near term outlook and I'll look to enter a new SPY call position on a pullback.
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