2/28/13 - Currently, I am holding (8) April 5, 151 Put options which I paid an average of $209.00 each. I scaled in WAY to early as my entry was around 152.40 before lunch. I also purchase (8) March 152 options for $109, but at the top, I bitched out and sold those for $84 each for a $264.00 loss... I am SO Pissed!!! My Max drawdown was $178 at 152.80 on the April's and at the close the options were up $303.00. However, as I sold the others for a $264.00 loss, I am only positive $40.00 ... UGH !!! The difference between a $40 day and $600 day !!! The last trade on my 151 puts was $247.00 and that was somewhere around 151.60...
So, in Summary, I have $2k in put options on the SPY....heading into the sequester.. I just put on Mad Money to see what Jim says, but I missed 1/2... I don't know what is gonna happen tomorrow, but I see the chart and to me it says SELL... that and the Force, of course...
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