October 26, 2011

I may be selling some covered calls soon.

Or I may just close the whole thing out. I’m nowhere near my profit target but I’m not so happy with how I spaced out the buys on this trade and I don’t like that SPY has to drop to 105 again before I’m going to buy anymore. That’s like 20 points of play, although I don’t mind sitting through drawdown (obviously, if you’ve been paying attention to this thread).

ITM covered calls may be a good way to force the position to close. Of course if I do that price will go straight up

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