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Bought to close 10 Aug 1900 puts today (and numerous other positions) for 10.5% return on margin and 15 days held. I will post my account statement at the end of the month
Volatility is good for the market and trading.
Preservation of capital is the most important concept for those who want to stay in the trading game for the long haul. - Van Tharp
Can you help answer these questions from other members on NexusFi?
I wouldn't wait. In the past I have waited and waited for a downtick that never came. Or when it did come the price of the option was still less than it was the day I exited the prior positions.
I'm in the same boat. I'm just waiting until the Greece deadline passes tomorrow and then make a trade. Based on previous advice on this thread I look to make trades on Thursdays or Fridays of the week.
Fortunate on timing on this trade. Like Ron, I'm not a believer in timing the market but I do like to sell puts when IV is rising.
I will be looking to sell 10 1900 Sept puts leveraging 950,000. Possibly more puts if there is Vol. pop but would like to keep my risk in check by selling an appropriate quantity to my account size.
Volatility is good for the market and trading.
Preservation of capital is the most important concept for those who want to stay in the trading game for the long haul. - Van Tharp
Sold some Oct'15 1600 Puts last night for 2.50. Will be waiting to take off some 1630 Sept 15 and 1650 Sept 15 Puts if things go our way this couple of days. If things don't go our way these couple of days, I'll just be waiting somemore.
Virileblood, I think you are being impatient. This strategy is boring. This strategy is all about time decay of options. Time decay is boring, but consistently profitable. Sell your options, then put in a buy to cover order for 50% of what you sold them for. In about 3 weeks, you should get some "action". Repeat. Keep doing this and you will blow past the performance of every Wall Street "expert".
Do some soul searching and decide if you would rather have "action" or real compounded growth.
