fuzzballl 7:54 am on Friday, June 24, 2016

NUGT…playing it safe

I’ve been burned by this thing on huge Friday afternoon moves before so booking these just in case. A few weeks ago had a chance to close puts for a nickel but waited. They ended up in the money and trading for over 2 bucks a few hours later. Not this time!

Bought to Close NUGT JUN 24 2016 95.0 Put @ .15 (sold for 4.20)
Bought to Close NUGT JUN 24 2016 100.0 Put @ .29 (sold for 5.40)

vxxkelly 7:58 am on Friday, June 24, 2016

Good job, it’s one thing to hold out for the last bit if you sold them for $0.90, but having sold them for as much as you did, good risk management to just “settle” for a 95% profit and walk away.
- fuzzballl 8:03 am on Friday, June 24, 2016
  
  Exactly…I seem to be having better luck with less worry staying a little closer to the money with tiny positions and actively managing them instead of being bigger and further out. Ever since I caught on to Jeff’s reverse roll / roll to strangle strategies I’ve been able to stay just a little more aggressive with smaller positions. Big moves rarely hurt with fairly neutral delta and the huge premiums make rolling pretty easy.