Wednesday, November 14, 2012
Rolling down IYR diagonal
IYR broke major up trend support and 200 dma. I rolled half to Dec$63c yesterday for a credit of $0.86 and another half to Dec$62c today for credit of $0.85.
On 11-2, I had to roll up to Dec$65c for a debit of $0.88 and Dec$66c for a debit of $1.33, due to short delta rising above 0.7.
Since IRY had been going down straight for many days, I'll wait to see if a rebounce is weak enough to headge the long term bullish position.
Created with ProphetCharts®