Thursday, August 5, 2010

8/5 Daily Summary

Volatility is crushing my P/L potential, I have too many long calls at this point, if I have some time Tomorrow will consider replacing at least one them with a cut and roll... The only thing preventing me from doing it now is that we can go lower from here (looking toppish on the daily chart), so I'm hanging on to the vega in case vols pop a bit.. In any event, I can replace and keep the vega exposure small, but not positive.. Will look into it. So far I'm around the zero line if we do pull back then I'll be in great shape.