G'morning, A few minutes ago i closed my NFLX position.
I had sold the puts on 10/22 for +1195.
I closed on 11/1 for -748.
Profit in 9 days of ..............+447
the reason for closing are on at least two levels
a. NFLX is declining today as it is down around $5
b. I had a profit and I hate to give up a profit. Yes it wasn't as much as I had hoped, but a profit sure beats a loss! For me, I acted on the old adage 'You are never wrong to take profit' The position was probably still safe. However I don't want to watch the stock continue on down and pretty soon I would be wondering, why oh why didn't I follow my gut instincts and close it. As I mention in my book, when you start getting the feeling of 'what's going on here?' It is usually time to close the position.
So for now I am pretty much sitting on the sidelines trying to wait out the week ahead of us. A lot of news coming this week so I recommend if you plan on opening new positions use the utmost caution. I could be really good or so-so or really ugly. When I have no real feeling on the direction or things..I try to step back and wait!
Good trading all
1 comment:
I think the fact that coinstar mentioned that they are going to be netflix competition and the fact that stars network is going up on the price that netflix is going to pay helped push down on it. I wanted in on it as well but had to watch. $447 profit in 9 days is not bad.
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