BIDU MAR10 Short – Closed $380 Loss
February 22nd, 2010, 11:44 am EST. Posted under Margin Portfolio (MP) by ThetaTrader.
Post Tags: , BIDU, CLOSED
543.36 (+10.03)
03/09/2010 – ThetaOptions Margin Portfolio – BIDU MAR10 Short Closed – $380 Loss
OK, selling naked options becomes way too risky when a stock moves from 380 to 550 in 8-10 weeks. It’s better to take our loss now, rather than adjust this and risk a huge loss. Our mental stop loss on this option was $8; we didn’t want to lose more than $4 and that’s where we’re at this morning.
Filled Order:
BOT +1 BIDU 100 MAR 10 550 CALL @7.90 debit
Position: Closed
Profit/Loss: Sold Call $410 & closed for $790 = $380 loss
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