Friday, July 18, 2008

Sell IWM, Sell EEM (buy back puts)

Sell IWM via covering my short Aug 63 puts

Stocks have had a nice 2+ day run, and a pullback, perhaps even a pullback all the way back to the lows wouldn't shock me. V-shaped bottoms are not common, and even when they occur they can be very tough to trade. There aren't many "safe" entry or exit points on most V-bottoms. "When in doubt, get out."

Sell EEM via covering my short Jul 125 puts
As I type up the IWM entry, EEM continues to slide. Even though the odds of it coming into the money are about those of a lightning strike, I am closing out my position for a break even profit. Even since I entered the trade, it has been nagging me. The remaining premium seems worth a bit of peace of mind for the rest of the day, because I am not in front of the computer all day.

RIMM, SPY expiring today
that may leave me with long BUD as my only position

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