Well, this one didn’t work out. With the Fed and the Treasury doing all they did in the last week or so all the financials ran higher and never looked back. I also got assigned on my short calls. but I chose to hang on since the risk profile didn’t change.
In looking back on this trade I should have closed the position when it looked like the Fed et, al. were making things happen that would make the financials rally longer term. I could have closed for about a 1.50 loss as apposed to a 3.57 loss. Not closing this position sooner was the difference in this month being in the black instead of down 9%. Oh well, live and learn.
Sean's Trading Journal 