Monday, February 24, 2014

FXI Position Adjusted

In about 1 week after I sold FXI Feb$36.5 puts, FXI seemed to start a down trend which lasted over 1 month to now. Based on the Chart of FXI, it appears to have another leg of rolling down again. So I decided to reduce my assigned FXI position by selling 25% shares to reduce the risk. For the remaining long FXI ETF positions, I sold Apri$37 calls to collect $0.61 credit per contract. If FXI does not fall too much in the next couple of months or so, my position will be OK. Otherwise, I will continue to roll down my short calls when 80% of profit is reached for this long term position.

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