Tuesday, June 9, 2009

JPM

I screwed myself buying back the JPM naked $40 calls last week. Unless we get a big bounce soon I won't get a chance to put that play back on. Since the time decay starts to evaporate fast here, I'm thinking of selling naked $37.50's. If this play turns out to be a loss I would probably buy them back next Friday and move the strike price up to $40 and out to July. I don't have anything else I'm really watching right now. Pretty soon we should start hearing some whisper numbers on how Q2 was for companies and then start seeing some more action in the markets.
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2 comments:

  1. UnknownJune 9, 2009 at 1:33 PM

    hinesite is always 20/20.

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  2. UnknownJune 10, 2009 at 6:14 AM

    I would be careful with the $37.50 Naked call. It just feel like there is too much risk with that strike price. I may be wrong but it sounds like you are chasing since you took off your $40 calls. I just recommend to precede with caution.

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