October 27, 2011 – Entire position closed!

Closed everything.

SPY @ 129.
SH @ 40.09.

SPY: $31,115.00 (closed)
hedge: -$3,281 (closed)

$27,834.00 (SPY gain + current hedge loss)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend to be paid on 10/31)
$5,221.55 (realized)
————————
$41,902.49 (total for trade)

All positions closed.

Hedges and money management. Around $9k of the gain in this trade was from hedging. Had price not gone against me, my end result would’ve been less.

I was set to buy more if SPY got down to $105 which would further lower my average cost, but part of the reason I sold today was that is a long way away and if price decides to go back and forth between 120 and 112 again without making it down to my next buy point or going up to a net profit area, I don’t want to sit around waiting. So I saw a good opportunity today to exit and I did.

Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *