Monday, January 05, 2009


Buy to Close - 1 USO 30 Jan Put @ 0.45 (Sold @ 2.70)

Profit + $225

Oil has had a good run the past few weeks. Locked in my profits on this one.

One thing I've realized selling naked puts is to take profits when you've already made 75-80% on the trade. If you try to squeeze out the extra bit of profits in this kind of a trade, it could backfire in your face. It doesn't take much time for options these days to go right back in the money.

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I think you just pushed me over the edge. I have been thinking about selling options for years, but I never got around to it. I'll take a look into it.

And thanks for the add,

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