Monday, November 14, 2011

New Trade JPM Dec 29 PUTS

Initiated this short PUT position today for December expiration. Break even at expiration is $28.34 which is not too much higher than the 9 month low of $27.85. May be a little volatile with the mess in Europe but that is why the premium is pretty good and gives a chance to make close to $2000 if these .20 delta options expire worthless.


  1. Delta on the Dec 29 puts increased to 0.33 today so rolled to Jan 27 puts for $0.30 credit and got delta down a little bit to 0.27.

  2. End of month update: No change in position, currently showing profit of $505. Delta of the short Jan 27 puts has decreased a bit to 0.24.