We are holding our current positions ( see lastest portfolio ).
The markets current assault on Dow 11,000 is no time to initiate new put write positions.
New plays for February will be out next week. In addition we may have a few SUPPLEMENTAL plays in the middle of this week. (maybe)
We are holding our Janauary Recommendation list to our current open positions.
We feel put writes initiated at these prices would not be the most prudent action with the DOW currently testing the 11,000 level in the face of the current streak of up days so far in 2006. A pullback, could be on horizon, even if only temporary.It is not worth the risk.
Let's just take a deep breath and and try to relax and look for a pause or pullback..
For those of you who looked into the CABINET pricing with your broker dealer, and your broker dealer has allowances for those type of trades, feel free to close out anything that you feel is not worth waiting until January 20th fto expire. I am not suggesting everyone do that, but if you want to loosen up some margin and you believe you have a decent profit in any or your trades ( based on your own subjectivity) , there is nothing wrong with closing that trade for a profit. As I mentioned I will be holding the positions OPEN and following the JANUARY RECOMMENDED LIST until expiration.