Wednesday, October 6, 2010

10/6 Daily Summary

Back around break-even level after we traded down Today. The market is bouncing around and I am exiting the position at the same time, plan to exit or continue to condorize it tomorrow by doing debit spreads to move my short contracts away from the money, as it turns out the 2025 and 2050 calls are way too close for comfort, they’re being helped by the long call, so it is time to clean up the inventory, free up some theta and control the gamma exposure.

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