Thursday, January 17, 2013

Closing GOOG Feb 720 Puts

Since we are getting closer to expiration and this is a bigger position than I'd prefer, I'm closing the GOOG puts out of an abundance of caution. The GOOG equity (short) position is still open and looking to add 1/3rd to it to bring it up to a full size position.

 Just a bit over 40%...

 The probabilities for GOOG are definitely to the downside, larger picture, however even if there's just a consolidation, the time decay starts eating those puts up.

There's also this 2 min chart so it's just caution.

I'll be looking for a place to add to the equity position and if it pops up, I'm not opposed to another put position.

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