I was watching Dan's session Today, and asked about cutting deltas when they start to become twice as big as the theta, he indicated it to be a good idea. Dan's plan to avoid touching the position on its first week applies mostly to Indexes, this ETF trade has a high gamma, so I may need to act on it sooner if it moves.
I just love how quickly these trades build up profit. Look at it, almost as much as the SPY Double Diagonal, the DD has been there for almost 3 weeks, this thing has been here for 3 days!
Thursday, June 18, 2009
06/18 SPY Double Diagonal
I took the finger off the trigger on the trade Today. I was itching to exit this position. Given the weekend is just around the corner, and we find ourselves in the middle of the graph, I'll let it ride and look at it again Monday.
The only reason to exit Today would be axiety to lock in $, not a good reason just by itself.
The only reason to exit Today would be axiety to lock in $, not a good reason just by itself.
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