WPL - Close Out
Looking at this trade more carefully, I clearly missed the double top warning signal. I will watch out for that next time!!
My Initial trade
The Trade (WPL) - Traded on 23rd July 2007
Sell Jul $45.5 Puts @ $0.31
Buy Jul $45.0 Puts @ $0.18
Expiry = 26/07/2007
Share/Contract = 1000
I closed this trade on 25th July 2007
Sell Jul $45.5 Puts @ $0.795
Buy Jul $45.0 Puts @ $0.445
All up this trade cost $0.22 - (20 x 1000 x 0.22) = $4,400
After brokerage: $4,863.60
I didn’t roll this trade out because the market is still a little unsteady at the moment.
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