Sold Feb 09 460/450 Put @ 4

1/29 glad I exited the trade, the markets pulled back.


1/28 I exited the trades for average price of 3.67 (+0.33 or +11%). Considering that this was a loosing trade pretty much the day after I put the trade on. I sold into the strength.

1/26 I've been taking a lot of heat on this position. The stock fell below as low as 430 since I put on the position. I should've waited for RUT to come down more as my pivots as indicated. I'm holding onto this with a lose at the moment. Still have some time before Feb expiration. Also the market has been getting so much bad news with bad earnings and massive layouts, yet the market manages to hang on and not go down/collapse.

Lets wait and see how RUT does. We need some positive news (even tiny) to create some stimulus to push this market higher.


SOLD -3 VERTICAL RUT 100 FEB 09 460/450 PUT @4.00 ISE, RUT MARK 468.67
Delta -42
Imp. Vol = 56%
Support at 50SMA =464.
Problem if RUT closes below 460.