Option Investor

Option Writer Portfolio - September

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Oil is testing yesterday's highs as Gustav gets closer. DUG, the Oil and Gas Ultra Short Proshare, is flat on the day. I am selling the 40 September Calls in order to finish the Short Strangle. The target price is $0.50 on only three contracts. Remember that DUG is the inverse. So selling Calls is bullish on Oil and Gas and selling puts is Bearish on the Oil and Gas sector.

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