Friday, March 14, 2008

Sell IWM (buy puts)

Buy back short puts on IWM for modest profit, so am back to being flat (out of market). ThinkorSwim Analyzer (my brokers software) shows 5% of closing before 63, then as the market slides, odds increase to 9% by the time I exit and more like 20% at the lows of the day. I take my modest profit following my rule: Never let a profit turn into a loss. Stock futures indicated a huge bump up before the open, but it didn't materialize and faded to a loss before the first half hour on BSC news.

/edited for typos: originally posted 9:49 PDT

No comments: