What should I do with this trade ?

[MattZ]

That would be too easy. And the best ummm option.

Make many more of those trades and they will have cheap wine on hand for years to come.

The worst trade is a trade that has no risk management and goes against you slowly, very slowly. Psychologically you are "boiled" and can't act. Not a good situation. But, amazingly there are always those who "feel", "convinced" and "hopeful" that they can catch a top or bottom. They are in the phase of being fascinated with the market, but they are not traders yet. When they overcome this hurdle of trying to call top/bottoms or even avoiding such tactics, they move on to a different more professional phase. This my opinion.

 

[traderwald]

all,

The trade was closed on Friday. Call at 3070 got exercised and the underlying position got closed. I thought of the Opts approach but this mkt is simply going up at that point. It would be like all the capital would go into the Opts purchase and the strike keeps going higher from the short position.