Friday, August 14, 2009

A week before expiration -- SPY buy-write

Did a SPY buy-write this morning, SPY at 100, sold Aug 99 calls at 1.93 -- both via market orders for an effective debit of 98.07. Almost 1% return for one weeks' investment is pretty attractive--assuming of course that the market doesn't dive. I could see a correction happening next week, but there is a lot of greed running around right now...

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