The Disciplined Trader Takes Profits

10/22/2013

The Disciplined Trader Takes Profits

On 10th October this is what I said:

"I will buy the S&P 500 1700 call (November). If the market rallies I’ll make money and if it falls in October there is still a chance I will make money in November. The premium is low which means the potential loss from this trade is small, but the potential gain is large"

Today the premium on that option is up more than 250%. It's time to take profits. Whether or not the S&P can continue to rally, there will be a better opportunity to buy a new call in the next few days.

Posted by Better Trader on 10/22/2013 at 05:13 PM in S&P 500, The Disciplined Trader | Permalink

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Better Trader

10/22/2013