The fill on the XLF June 7th expiration $20 Put position was $.29, having opened them at $.56 that's a 48% loss or in this case $1350, which is still well under the 2% of portfolio risk management target, in fact it's about 1% so not any big loss there, but the lesson definitely is, "buy quality and time" as for a while the weekly options were working great, but recently I've been getting back to the "buy quality" theme with positions that are in the money and have at least a month left on them.
New option positions for the most part I'd like to start moving out to July at this point unless I see them as super short term positions.
GLD did MUCH BETTER with a $4.11 fill with a $2.95 cost basis for a 39% gain, considering these were opened Friday, this is the way I like to use options, the shortest time duration possible. This brought a $2900 gain.
No comments:
Post a Comment