Wednesday, July 09, 2008

Sell SPY (buy back short puts)

Buy back short SPY Jul 116 puts

I don't like the way the market is trading, or the way I am trading. So I am taking my breakeven profit (when profit is less than the commissions) and taking this trade off the table. Many traders trade smaller and smaller when they are in a bad streak.

Position: short RIMM hedged

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