Tuesday, May 15, 2012

Taking Off Some of the Insusrance, for a profit!

As discussed here,   in late April,  CCI established two, May, index,  short put spreads to provide a little insurance for a portfolio for the chance/probability that a correction in them market was likely to come at some point this year.

Yesterday, CCI  closed the May $67 -$65 QQQ (Nadaq-100) put spread.  This spread was purchased for $.82/contract and sold for $1.80/contract.  That's a nice, "little",  20% gain to provide a small buffer against the recent market slide.

CCI still owns the SPY May $136-$130 put spread,  but anticipates rolling that out to June in the very near future.

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