Tuesday, May 15, 2007

Cover AAPL and SPY shorts (sell puts)

Sell SPY Jun 149 put
Sell AAPL Jun 105 put

These shorts are not working out. I am taking my lumps. May expiration is this week, and Wednesday is often rollover day. Option premiums get hit hard on the out month during the rollover process.

I took big percentage losses on these puts options, however, actual dollar amounts are not that big.

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