Sell Sep Q 47 puts, stock around 56.13
I already have a position in IWM. My August option positions are close to delta zero, meaning that if the rally continues, I have zero participation. I sell the September quarterly put that expires last day of September, at the chart support strike of 47.
If the IWM Russell 2000 falls below the strike by end of September by that time, I would take delivery and go long the stock. Like I wrote in an early entry, even if September 2009 is one of the worst Septembers ever, that would be a 12% decline. With IWM at 56, a 12% decline would only get us to 50.
Long INTC, IWM, XLE, MTB, AMGN
all expiring this Friday
Long IWM September quarterly option
No comments:
Post a Comment