Monday, September 15, 2008

Sell SPY (buy back short puts)

Buy back short SPY Sep 116 puts

I am taking my lumps and my loss. Again, there is some hesitation as to wait until a close below 121, or to cut and run now. Another huge percentage loss, but again, a smallish dollar amount.

Positions: long BUD, FDX, GLD. Short USO

As always, fast markets are a hazardous place for position traders

No comments: