I lighten up on GLD by buying back one of my short puts, GLD Nov 91, for a break even profit. I follow my rule “never let a profit turn into a loss.” The remaining short put is GLD Nov 92 and that is now at a small loss after commissions. Probability for the remaining position is 7% chance of a loss if held until November expiration.
AAPL continues to fade, support at 190 (currently 193, I sold the put at 200). AAPL has been a frustrating trade so far, because time decay (theta) and delta never did kick in for me like I expected it would and the theoretical pricing model indicated after the earnings announcement.
Long AAPL, GLD
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