Dr. Duru | May 22, 2012 12:46AM ET
It seems Friday’s stalemate was indeed a demonstration of overall market oversold . Once the calls gained enough to pay for the puts yesterday morning, I bailed. I was trying to be clever and prepare for what I assumed would be an eventual pullback to support. A day like yesterday was not even on my radar, much less wish list. A 6% WEEK perhaps, but not for a single day! So, unfortunately for me, I am left with unfulfilled promise and a handful of puts that are sure to expire worthless this Friday. Such is the irony of trading.
Be careful out there!
Full disclosure: long AAPL puts
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