Isn’t this beautiful? 96% profit in just few hrs

Published on February 27, 2007

Isn’t this beautiful? 96% profit in just few hrs

February 27, 2007

This is as beautiful as I could ask for- what a beautiful and orderly decline. I am happy I took the call to close out RUT BPS or else by now I would have been scratching my head pondering why I am not getting fills for my order….

Here is the chart of the dow decline–> dow-down-chart.png  

After long time I decided to play directional as so many indicators were telling me that bears are in-charge of the day…here are the results of my dow trade, 96% profit in few hrs (if I would have waited till close, it will probably will result in more profits, as of writing, roughly tripled…but need to control “greed and “fear”…no coulda woulda shoulda) after I mentioned in my previous post that this is a sell-off indication to me…red is a beautiful color too….

dia-transaction.png

Profitable trading, OptionPundit

3 Comments

  • Avatar jordanbulls says:

    Hi OP,
    Can you share at what option price / RUT index price did you close the BP spread on Tue? You closed the entire spread or only bought back the sold leg? Thks

  • Avatar OptionPundit says:

    I think I closed it at when RUT was somewhere around $805 or so. It was droppping very fast so couldn’t take the screen shot. I had orginally sold 800/790 BPS for around $95 cents I bot it back for raning from $2.80-$3.20, now it is selling for $4.60 or so.

  • Avatar jordanbulls says:

    Thanks OP. Did you only buy back the sold leg and let the bought leg run? Or you closed the entire BP spread position?

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