Wednesday, January 18, 2012
Taking profits in EEM option trade
This post described CCI's option positions straddling EEM. EEM moved over $41 today. this year. CCI was able to close the Jan $40 covered calls for essentially cost a few days. The Jan $38 naked puts "should" expire worthless this Friday for a gain of $.55/contract. It would have been better to just be long this ETF, but these option plays made money with reduced risk.
CCI will likely re-establish some option positions on any pull back.