#shortstock #ironbutterly FB
Unless FB drops 22 points by the end of trading tomorrow I’ll be short 100 shares with a basis of 183.17, from a 170/175/175/190 bad trade. If FB will slow down a little I should be able to catch up, let the put sales begin!
buy to cover UVXY at $13.10, sold 11/3 for $14 (call exercised). My indicators show negative divergence on SP-500, we’ll see but taking protective action.
edit: call not put
buy to close half position at $13.10, put to me at $14, sold few weeks of covered puts net additional $1.83, not bad!
UVXY #shortstock #shortputs #shortcalls
Last week was exercised on naked call ($1.25) at $14. Today I elected to cover potential margin call by selling $15 put ($0.73) and buying $19 protective call ($0.13). I think this will mitigate my risks to a low cost worst case $3.15 (19-14-1.25-0.60). However more likely is a small gain if present trends continue $0.85 (14+1.25+0.6-15), and acceptable return. Does anyone see any flaws in plan?
short at 32.59, so far so good.