Thursday, July 1, 2010

07/01 Daily Summary

Early this morning I went ahead and cut out some of my short put spreads and balanced the delta by selling one of the 2 long AUG puts I had. I felt this would relief some of the over-exposure I had to positive vega and as it turns out it was a good move, without making these tweaks I’d be down over 15%, while I’m now down 12% on the position. Going into Tomorrow I’m little inclined to touch the trade and will probably leave it alone to ride over the long weekend.

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