Today I sold 1 Sep NG 4.25 Call for 0.204 or $2040 to offset the carrying cost.
I'm holding 3 outrights right now, so I like to exit 1 at least. My break even is a little over 4. I plan on selling another call at 4.5 and probably hold onto the last until 5.5-6 level.
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4 comments:
what's up with natty gas? I got in QG last week at 4.05. I don't know what the F I'm doing...hah. I dumped it this morning though...
I'm not sure if this is 'the' move or not. I'm just waiting NG catches up with CL.
I was lazy updating my positions. Last week, I rolled to Sep. 4.25 Aug Call and 3.5 Aug put options all expired. I also sold Sept 3.5 last week for $2500ish.
I'm holding 3 long with 4.25 call and 3.5 put.
Why did you get out at break-even after seeing a big drop and a bounce?
You know, every time a position moves against me by more than 10% within a few days and I get back to breakeven, I tend to take the gift. I should be doing what you're doing and hedging with options, but I'm not playing the big contracts, so I can't really do it. I may just get back in though...as I do think that we're going higher in the near term, which is why I bought it in the first place. What are you thinking?
Hey, if it's your rule, there's nothing wrong getting out at b/e. In fact, that was a smart decision based on today's action :)
I still think we should see 5 soon. Once we see 5, from 5 to 6 is rather faster. Trying to catching a bottom seems to require a lot of patience.
I plan on writing Sep 4.5 call for $1000ish. I didn't intend to hold 3 lots honestly and I need to trade live on a new portfolio for something I've been working on.
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