Tuesday, March 06, 2012

Damage Control on IWM

To state the obvious, selling IWM puts yesterday wasn't such a good move. I do damage control on yesterday's trade by selling IWM Apr 85 calls IWM@78.6. I am already short Apr 69 puts and Mar 70 puts. This lowers my overall delta. Resistance to the upside is at 83.

I was tempted to title a post earlier: I'm Melting, meaning this years modest profits are melting away like spring snow, or the witch from the Wizard of Oz.

Long APC IBM IWM MCD SPY XRT
net short GLD
* long BRKB
* short GDX
* delta is near zero on these positions

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