Wednesday, April 6, 2011

Taking some more profits on bonds (ZB)

We're down two full points 2'00 in the last 36 hours on ZB. That's kind of a big move and since we're already down from 123'07 to 118'22 in the last two weeks I need to lock in some profits here. The contract I just sold at 119'00 in after hours was shorted at 120'16 back on 3/10/11. I missed my desired exit point weeks ago by a few points and was upside down on that one by as much as ($2500) at one point, so don't want to repeat that performance. I need to concentrate less on calling tops and bottoms and more on taking large pieces of the middle. I've got one short contract left and still short some OTM calls that expire in two weeks. If we get another down move this week I'm probably closing those out early. This has been an incredible ride. I hesitate to close these out not knowing when/if I will get another attractive entry point. It feels like not wanting to go home after vacation is over.



No comments:

Post a Comment