Monday, November 24, 2008

Sold Too Early

I sold my puts and calls before going to school around 8:00PST this morning. I sold the put first because it looked like XLF was rising, then I waited for a while (making about 10-15dollars) and then sold the call. If I held it until the end of the day I would have made another 40 on top of that, but I did not want to have to worry throughout the day. I lost $6 on the trade, plus commission, but it could have been $10-15 worse if I sold the put and the call at the same time. I really should have looked into the whole Citi thing a little more. That would have given me more confidence to hold the call (I think it will still increase in price, especially with the nice volume it received today).

Take care.

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