Selling Calls To Take Advantage of SPY Drop to 82 By 18-Sep

Discussion in 'Journals' started by shortie, May 31, 2009.

Chances SPY Will Drop To 82 By Mid September

  1. Virtually Impossible

    6 vote(s)
    8.0%

  2. Unlikely

    8 vote(s)
    10.7%

  3. Possible

    13 vote(s)
    17.3%

  4. Likely

    25 vote(s)
    33.3%

  5. Sure Thing

    16 vote(s)
    21.3%

  6. Yet Another Fool Ready To Part With His $$

    7 vote(s)
    9.3%
  1. shortie

    shortie

    no trades today, eod update:
    [​IMG]
     
    #101     Jul 7, 2009
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  2. shortie

    shortie

    i am traveling so the position is not supervised much. no trades today.

    July 13 EOD Update:
    [​IMG]
     
    #102     Jul 13, 2009
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  3. shortie

    shortie

    did not expect that much upside and got whacked a bit. unrealized P&L update for July 16:
    [​IMG]
     
    #103     Jul 17, 2009
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  4. shortie

    shortie

    after the wild month i just have to be content with what i got: profit is profit. one thing that i could have done differently was to buy some cheap OTM calls when the market was dropping last week to have an insurance against the kind of the wild ride up we got this week.

    Bought 800 SPY to offset short call assignment. i will be long 8x Sep Puts on Monday. Not sure if I should close them or sell some Aug puts against them.

    July 17 EOD update:
    [​IMG]
     
    #104     Jul 18, 2009
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