Option Iceman 9:41 am on Monday, March 23, 2020

TNA Buy Write

Bought 100 TNA / Sold 1 TNA 03/27/2020 15.00 Covered Call @ 10.00 net debit.

TNA has dropped from above 70. WOW

fuzzballl 9:48 am on Monday, March 23, 2020

I’ll be digging my way out of this one for awhile. Luckily only 100 shares. One thing I’ve learned about this drop is to steer clear of most of these leveraged funds. Not really worth the effort.
- Ramie 1:35 pm on Monday, March 23, 2020
  
  Long the leveraged funds is a nightmare in a high volatility environment. Then writing calls against them doesn’t really help reduce basis in any meaningful way. Going short over the long run is supported mathematically but when there’s a huge shock like oil/DRIP all the math in the world won’t help LOL. Glad you went in with only 100 shares.

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