Friday, May 23, 2008

Buy IWM (sell puts)

Buy IWM Russell 2000 ETF via selling the Jun 65 puts. Some fear finally showing up after a week of mostly down days, with the VIX perking up. These options are seven points out of the money, so it will take a smash down of 10% for them to be exercised against me. I am dipping my big toe back in the water after having all my positions expire last week.

Long IWM hedged

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