Wednesday, March 6, 2013

Dodging the Rally

I covered my way-OTM GLD and GDX bull credit spreads ... just before they reversed and rallied of course. GDX had its best day in weeks. I netted -68% and -95% respectively. It sure would have been nice to recover some of that.

I covered my XLI spread for only $0.03. The problem was, I didn't get much when I sold it, and oX's commissions took a big chunk. I think I'll let the puts expire OTM next time - I didn't even need the buying power that quickly. +1%. At this rate, I'll make up those gold losses in no time ... not.

My well-ITM FLT spread sold for a nickel under max value, +60%.

I sold March bull credit spreads in QQQ and GOOG, bought April calls for OAS, and bought SMS stock.

Monday I sold the April TAL calls before the stock went ex-dividend, +8%.

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