Thursday, January 7, 2010

Close out SPY 115 leg option

With the SPY jumping up above 114 today, I decided to take losses and buy back the 115 leg of the Bear Put trade. This puts me at a $3,300 loss, which is about 35% loss on the trade. I am still leaving the 116 Call open as I want to see if the market will jump a little bit with us now breaking out into new highs. If so I might be able to get back my losses.

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