7 days in a row. It's definitely a dejavu. I was looking to peel one off around 2.9 level, but it got as high as 2.85 and now at 2.3, ouch. I thought about buying puts at that time, but I thought it'd give another push higher. Had I bought a put, I would have had to wait for a higher price.
At this point, I really don't want to buy puts because, when markets are going down, puts get inflated and I do pay a lot of premium. What I should do is to sell another put, but I'm not sure if I want to fund more money to my trading account not to mention feeling as if adding to a loser.
The question is will it make a lower low or higher low... If it's a lower low, I'm screwed!
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3 comments:
Yeah, I should've just held tight, but I gave back $3.5k with my calls. Good thing is that I still have some premium because they are Jan 2013 calls. The stock almanac says that the middle of June is a bad time for Natural Gas, seasonality-wise. I'm not too worried right now, but I do regret getting all 20 calls again.
I think you avoided the worst by swapping with lower calls.
When I traded NG a few years back, there were at least big swings up and down, so I was able to write call and puts, but at this level, I really can't do anything but watching.
I feel as if I need to add more, but that'll put me into an uncomfortable level based on my portfolio size. Besides, it seems to happen again and again if I add, it goes against, and if I don't add, it goes my way.... hmm
BTW, are you going to watch Euro 2012?
I wish portugal won yesterday. Spain is not as exciting. Ronaldo and Nani are my boys...
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