Well, this morning with Nflx trading up and down around 184 and me sitting with only 6 puts at the 185 strike a problem arose. I had a Tee time at 10 am and NFLX was showing no sign of going up. I decide to close the position and bite the bullet. I did not want to come home and find it trading around 180 etc. So I closed for a loss of 1400 on the NFLX position. If I had stayed home and watched the mkt, I would have seen that the stock came all the way back to the 188 position...Grrr... But that is trading, some moves you are a genius and some you are ..wrong.
But this freed up a lot of maintenance funds so tomorrow I will make some moves to recoup the lost money of today. If NFLX is trading level I will probably jump back in and do even more of the 185's? About eight years ago I learned to do the best you can, think it out do what is right at the time and then you can't look back. You can certainly learn from the move but you can't go back. Even with the loss today on that position, I would do the same again under the same situation. I am still up a little over 2% for the month and will make it up in the last 7 days of trading.
3 comments:
Jerry two words for you
"Android Phone"
Check in between every 3rd hole. I have an HTC EVO with sprint. Frigging computer in your pocket.
yews gary, today it would have baought a years worth of phone time for sure...lol
I was thinking about NFLX last nigh and remembered why I only rolled 15 contracts. Wile on one hand I thought it was a killer to add a few hundred to an already great trade, the other hand was telling me this had greed written all over it.
Bottom line I took a trade that would have paid me 4500 and reduced it to 1200 IF Neflx closes above 175 in 8 days..Ouch!!
Going forward I think I will be happy with the bird in hand.
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