Monday, November 15, 2010

11/15 Daily Summary

If anything, these past two days have been a trial of my ability to manage the position and land it despite the turbulence! I am very grateful we didn't move much Today, this allowed the position to recover a bit. I closed 1 put spread at the end of day as it seemed wise to clean up the bearish exposure a bit. Now depending on where we go Tomorrow I may continue to exit slowly (if down-side) or simply pull the plug (up-side). I also need to remove most of the capital off the position as I want to add or start adding the next month's position. This has been the first time where I have an overlap between months.

I might be starting these trades too late in the cycle, I'll review to see if this may be causing me to come in to close to expiration and if it is forcing me to adjust without a lot more time to recover, as it certainly seems something is odd about the past few months being quite a workout to get some profits out of the position.