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GETTIN HAIRY, ISN'T IT?

HAVING TROUBLE PRINTING?
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GETTING HAIRY, ISN'T IT?Good Morning Troops,

Some numbers came out this morning that brought the market down to where it warrants a good look. With the SPX at about 1363, you have to decide if you want to ride out or GTFO of your 1340/1330 bull put spread.

It would (at this writing) cost about $1.50 to close out the spread if you are worried about further downside.

It's the last trading day of the cycle and the premium is eroding away quickly. Bernanke is yacking now and answering questions. It's pretty obvious that we shouldn't wait for the Fed to bail us out. You have to decide on what is prudent for your position right now.

Do the math and, based on your personal risk tolerance, make your decision. Also, remember that, if you have 20 contracts, you don't necessarily have to do all 20 -- whether you decide to hold on or close it out.

Good luck and trade smart,

Mike

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