I was going to roll those puts, as I always do, but there was a fire alarm in the apartment building and we had to all evacuate. After about three hours we were allowed back in but by then the markets had closed and my puts had exercised.
200 shares of SPY bought at 286 - any way to rescue or generate income?
- Thread starter Johnmaine
- Start date
I was going to roll those puts, as I always do, but there was a fire alarm in the apartment building and we had to all evacuate. After about three hours we were allowed back in but by then the markets had closed and my puts had exercised.
Robert Morse
Sponsor
So sell the stock and sell the puts you want to be short as a spread. Discipline.. Then you end up with the trade you wanted and move on.
Wish I could do that and stomach the loss. But those 200 shares represent almost my entire portfolio / savings / net worth.
Robert Morse
Sponsor
This is my last comment. I'm trying to help. If you can't afford to lose 4.58 points on 200 shares, you should not be selling naked puts. That money is lost already. Now you have to choose what you want to do.
It's your money,
Bob
Not sure I understand how that will work.
Thanks - appreciate your input.
Short call and short same-strike put = straddle
Long 200 SPY; short four calls = straddle
Long 100 SPY; short two calls = synthetic short straddle
As has been stated; if you don't know the mechanics then it's best not to trade vol.