Monday, March 16, 2009
Too Early
It's pretty apparent that I closed my bullish positions way too early. I was perfectly positioned for this bounce, but got nervous holding calls, and sold them days early leaving thousands of dollars on the table.
For example, my large position in XLF calls that I purchased for 1.17 and sold on average for 1.90 are now trading for 2.90. That's about 4K sitting on the "table" right there, not to mention my numerous other call positions....ANOTHER LESSON LEARNED!
Fortunately I am holding mostly May and June puts, so their value hasn't been that affected by this recent run up. I added to my position in EEM puts this morning, but will likely sit the rest of the day out, as I have other work to take care of.