Thursday, February 5, 2009

Closed my POT spread at 3:30 today, after twenty minutes of self-debate on whether to hold it for more potential gains. Decided against it due to the jobs report tomorrow possibly being a killer, and they expired this month anyway so decay was an issue.

Feb 70C, cost $966, sold for $1680=$714
Feb 90C, sold for $114, bought back at $275=-$161
Total gain=$553

I bought the 70 on Jan 22, and sold the 90 on the 27th to create the spread.

I think watching a stock run after I sell it is almost as painful as watching it drop after I buy it.

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