-$500 Loss
RIMMLong Option
Entry comments: Semi complexed trade: Sell Feb 1 Put Fly (12 / 14 / 16) for net $5.00 Buy Feb 8 Put Fly (12 / 14 / 16) for net $4.90 Collect 10 cents. See how it plays out.
Exit comments: Messed up this trade by trying to get too fancy w/ selling and then buying b/c implied vol was super high. Only way to play was through stock by shorting on the event, ahh well, was bearish, should have remained that way.
| Date | Price | |
|---|---|---|
| Entry | 1/27/2013 | 0.00 |
| Exit | 2/4/2013 | 0.00 |
- Total Views411
- Position Size20
- Percentage0%
- Option TypePUT
- Strike14.0
- Expiration2/8/2013
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Closed Feb1 this trade for a net loss of about -$500 trying to get slick w/ it, bad move chucko. Super complex trade obviously outside my realm of expertise, but thought it might be ok, if RIMM actually traded up off the event, then down afterwards, puts still super expensive it seems, so still long the Feb8 one currently at a net gain roughly $200, so the hedge costs $300, reward is roughly 3-4R at strike $14. Looks like I tried to get too slick, should have bought a vertical put spread.