So, my first post.... I've got a bunch of Aug10 Debit Spreads - Bull calls obviously :>( Most turned from a few dollars in the black (about 20% of profit target) in to the red (about 30% towards max loss). My game plan would usually have me out at a 20% loss, however these were unusual times. It was an accross the board drop precipitated by, I assume, the new rules on placed on financial institutions. I'm thinking of riding it for another week before considering an adjustment - most likely a roll out to the next month. Thoughts?
Stay long. It is expected that we will reach new 52 week highs by mid-August, then we hit a bear market.
You have done well by starting with a plan, and being hedged (limiting your risk). Next, follow your plan. Include, "What if" (adjustments) in your plan. Rule, don't change your plan mid stream. (self discipline) __________________ Enjoy life, it's limited. You only get as much as you take.