The market didn't like what Geithner had to say about the bank rescue. His speech didn't have specifics,so the market sold off hard.
Market overview
I entered the trades four days ago due to higher closes and lower volume.
My trades were all exited @2 (+26%).
Seeing that the volume for the day was going to be low, I sold two 510/520 Call verticals for 2.73 and 2.71 in my accounts.
SOLD -2 VERTICAL RUT 100 MAR 09 510/520 CALL @2.71 ISE, RUT MARK 470.50
SOLD -2 VERTICAL RUT 100 MAR 09 510/520 CALL @2.73 ISE, RUT MARK 470.65
Risk Graph of position
Reviewing the weekly pivot points, RUT might hit againist 494, which will be close to my short strike.
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