Re: update on the June 40 si. put / SOLD/TJC
Hey buddy, how ya doin?
Actually, I went ahead and sold the other July put as well...I realized with this magnitude of a downmove so quickly...and that other option still sooooo far out-of-the-money I might as well take the profit and run...paid .29 for that one and sold it for 1.33...not the profit margin of the other June put but very profitable none-the-less....
That June put was purchased at the near perfect time and I sold it at the lows of the day today...VERY lucky....
An unusually fortunate trade....but in hindsight it was quite simple...just buy as close as you can to the test of the $50 level and the closest month....even way-out-of-the-money works well if timed right...and the conditions were ripe with the 7 day runup leading to it...and all the hype...should have purchased several, lol...
Anyways I am not going to try to trade all the little 'tween moves...I always lose on those...so I will wait and be patient and find the right setup and let this market wash itself out and base and then start to move higher...and then consider jumping in...
In the meantime I am buying dips in natgas...and looking for technical setups to trade...if the right technical diversions form in the Dollar/Euro trade I am watching for a turn there....I think the dollar might bottom 70-72ish..
Cheers!