Option Investor


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!Hi Gang,

The bill didn't pass, and seemingly won't today. Maybe if they put on a few more bells and whistles it will have a better chance the next time they vote.

In the meantime, I'm going to hang onto our portfolio positions. There are three weeks left in the October cycle -- lots of time for things to happen.

On another note. I personally took advantage of today's down draft and threw out an order for the October 970/960 bull put spread. I got filled at $.80. I didn't trade a lot of contracts, so I'm not risking a lot. Just doing some bottom fishing. This is not an official Couch Potato position, just some food for thought.

Just look at the VIX. It's over 46. The bid/ask spreads are $4-5. These are historical times we're going through. Let's hope we can someday look back at all this and not feel so helpless to the system.

Take care. Be careful.


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