After analyzing some rolling trades today, I realized that I may not be in such bad shape. Yes, my long put is losing more than my short put has gained, but I am only in September, and my long put expires in November. So I guess I’ll be rolling (close out my September put) soon in order to short an October put and collect more theta. But I’m waiting on RED Option.
Archive for September, 2010
I woke up this morning to an unpleasant surprise. The Q’s jumped up by about $1.30, so as you can see, I’m near the breakeven, only about $0.40 away. If I were flying solo in this position, I would be stumped right now. But I’m restful knowing that the guys at RED Option are paying attention, and I just need to be patient, to see what wise trading looks like. So I’m looking forward to see what they will do.