WBC - close out
My broker mentioned that I could close out WBC for $0.04 so I had a look at the trade and decided to go ahead with it. I figured, since I got 15c for this and its going to cost me 4c to lock in my profits.
Why did I close this trade?
- Firstly, I am in a profit position
- WBC has been performing poorly over the past few days
- Its nearing options expiry day and WBC is trading very lose to the ‘danger’ zone
- Past experience has taught me not to ‘double down’ on a 50/50 outcome, if WBC was trading further away from the ‘danger’ zone I would hold it till the end. In this case, its way too close and tomorrow is just 50/50 and I rather make less money then wait a whole month
This trade made me $785.9 instead of an expected $1,290.6 ($504.7 less cause of the 4c and brokerage) - I’m happy with this trade. You would be too if you spent less than 30mins opening it.
I’m going to see if I can sell my long put for anything tomorrow, it might be worth something if WBC drops tomorrow!
Related Posts
