Tuesday, August 18, 2009
Last week before options expirations--too tempting to resist
After a two day blow-off the market doesn't seem to be panicking. The IV on SPY calls jumped up a little and I found a .5% return on SPY for a 4 day investment too much to resist. Did a buy-write with SPY at 99.28 and 98 Aug Calls at 1.75 for a net debit of 97.53. I did sequential market orders because I didn't want to mess around with a true debit order. The market was very quiet at the time--no surprises.
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