I sold my AAPL June 250 puts at 5.10 (purchased at 3.80) and I covered my AAPL common at 267.35 (shorted at 270)... I don't know whether to expect much from the short side so I took these quick hits. Cycles are cresting here but they have crested since 2009 and the market keeps going UP. I am not about to go LONG here but I am not comfortable being short any longer than I have been, either.
I am still holding SPY credit spreads but this is not a directional trade, simply a play on premium erosion...short the SPY 124/129 calls... I will cover these sometime before expiration. With the exception of this position I plan to remain flat for a few days. I just upgraded my cable TV to all the premium movie channels.... you know what I'll be doing for the next few days. It won't be tuning into CNBC!!!
Took profits on shorts
Started by
cycletimer
, Apr 27 2010 08:40 AM
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