I write spy bull and bear spread on monthly basis,to generate regular stream of monthly income. But in March 2009 spy put which I sold for 40 cents went to $9.50 but at the same time my hedge of $.10 went to $5.10 It saved me a lot of grief. :D :D
Few more rules for intraday shorts,stock has to open lower than yesterdays price,and it has to be lower than todays opening price,otherwise you are looking for trouble.
Robert happy holidays.Hope next year will bring more joy and more wealth for you.Please try to contain your drawdowns and you will be fine.---jack:D :D
+$12k
option position closed,AA,sold Dec 13 puts @.70/bought dec 13 puts @.05,total 200 contracts.Now I only watch market
for last 2 hrs,do not stare at screen like crazy for 8-12 hrs.:D :D :mad: :mad:
MON +$255
TUE +$2221
WED -$588
THU +$266
FRI +$1488
Overall good week, Tuesday AAPL earning play and Friday AMZN earning play is the highlight
:D :D :D