Wednesday, July 16, 2008

Buy IWM (sell puts)

Buy IWM via selling Aug 63 puts

I double up on bullish index bets. These puts are closer to the money than I usually buy. I am betting this rally has some oomph. As always, time will tell, and if it goes against me, I will cut my losses.

Positions: long IWM, SPY, BUD
Short: RIMM

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