I sent out a Tweet this morning when I sold the Call option referenced in the first post of this thread. Today's candle broke through the Trend Line and continued down with apparent intention. So we sold the option for 3.00 points.
Of course, as Mr. Murphy would have it, price retraced back up to the 8ema and the Trend Line. However, it did close a little under both, which is a subtle hint we may get more downside. I considered getting a Put option near the market close, but restrained myself when a voice in my head said "you have no edge". Which is true. It would be wiser to wait until the next market session and see which way it breaks. There isn't a compelling skew of the odds one way or the other. So I just sat on my hands for now.
The July Corn 3.35 Call option had cost 4 1/4. So the loss is 3 - 4 1/4 = -1.25 * $50/pt = $-62.50. Glad we got the option and not the futures on this one.
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