Thursday, December 30, 2010

NG Put sale

On Monday 12/27/10 I sold the JAN4 NG 4.00 strike put for .153, max gain = $1530. We've been going straight up since then and with 27 days still remaining until expiration I'm looking to possibly close this out early for 50% of the maximum gain. I would look to re-enter this same trade or possibly get long the underlying if we pull back towards 4.00.

Update 12/30/10: I had a day order in to close at .076 and it was triggered pre-pit trading hours this morning. So I picked up 50% of the possible gain in 3 days = $770. There are still 27 days left until expiration so I will be looking to re-enter this if given an opportunity. 

1 comment:

  1. This trade was closed out this morning, original post has been updated with a chart.