Thursday, February 19, 2009

Sold 1 NG Apr 4 Put for 0.310 (or $3100)

Natural gas report came out pretty bad, so it tanked to $4 ish and I got filled on 1 NG 4 Apr put for 0.31 or $3100 premium. My break-even is now 4.236. NG can go below below 4, but I'd be very surprised if it'll drop below 3. I'll sell 2 more at 3 should we get there.

Apr contract has about 4 weeks to go, so still plenty of time to decide what calls I want to sell. I still keep 5.25 Apr call if we rally.

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