Gut check time -- time for The correction?

Market is skittish today, VIX above 30.  None of the news looks particularly ominous to me.  Doubling up on the SPY trendline staying in play.    Bought SPY at 104.22,  sold-to-open 105 Nov calls at 2.27 for net investment of  101.95

Trading the trendline -- ready for the next round?

I'm wondering how many traders are watching the S&P 500 trend line these days.  I'll bet a lot are.  Becomes a self fulfilling prophecy--for a while...  Click to enlarge.

Did a Buy-Write of SPY at 105.59, sold 106 Nov calls at 2.19 -- net investment of  103.4.  Given our position on the trend line I went a little bit more aggressive, selling an OTM call.

The 3% solution?

SPY has pulled back around 3% in the last few days from about 103.5 to 100. Certainly there is still consderable downside risk, but my philosophy is to stay engaged with the market unless I am pretty confident the market is too high. Bought SPY at 100.17 and sold Aug 100 calls at 1.93 for net debit of 98.24. On the 18th, if SPY is over 100, and I collect the dividend distrubuted this month (ex-dividend date 18-Sept), the overall return will be over 2% for a two week investment.