Friday, March 4, 2011

3/4 Daily Summary

First of all, a HUGE THANK YOU for all of those who posted your comments and emails on Yesterday's posting. Your support is a major part of my trading business, it keeps me going. Knowing I have the blog and the commitment to post whatever is going on with my position is truly a major benefit for my own trading.. You give me as much as I give you, if not more!

So, back to trading. I did stick around with the position, here is why: After the market opened, with little price variation the P/L was looking a lot better and in alignment with my estimate (down 20% instead of 30+), this and the weak market start allowed me to avoid pulling the plug and essentially decided to hang around with the position over the weekend. If we do get in trouble, my plan is to peel the trade slowly, first eliminating the spreads hurting me, then hedging as much as I can as to stick with some theta but very little gamma/delta exposure..

In any event, Today is a LOT better than Yesterday. Enjoy the weekend! Cheers!!


No comments: